Posted on 05/07/08
Cordero agrees to bid from Ember Resources
Cordero Energy Inc. has formally accepted a bid, valued at $206-million, from Ember Resources Inc., ending a takeover battle that saw the junior gas producer pursued by Ember and rival Enmax Corp. The proposal, valued at $5.50 per share, prevailed after Enmax, the City of Calgary's power distributor, decided a week ago to bow out of the takeover battle for the junior coalbed methane developer.
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