09:59 AM EST - UTS Energy Corp. : announced that its board has unanimously approved a plan of arrangement, whereby Total E&P Canada Ltd. would acquire all of the issued and outstanding common shares of UTS and, pursuant to the plan, shareholders of UTS would receive cash consideration of $1.5 billion or $3.08 per UTS share and shares in a new, publicly-traded exploration and development company, SilverBirch Energy Corp. UTS Energy Corp.
shares T.UTS are trading up $1.34 at $3.45.
