Shares of Ember Resources Inc rose nearly 23 percent on Wednesday, a day after the Canadian oil and gas explorer said it agreed to be bought by an investor group led by Brookfield Special Situations Group for C$125 million. Under the terms of the deal, which has been signed between Ember and ERI Acquisition Ltd, Ember's stockholders will get 50 Canadian cents a share, or a premium of 11 percent over the stock's Tuesday closing. The consortium, which also included funds part of the ARC Financial Corp and Ember's executives, has agreed to take on C$88 million of Ember's debt as part of the deal. Shares of the Calgary, Alberta-based company were up 20 percent at 50 Canadian cents on Wednesday morning on the Toronto Stock Exchange. They earlier touched a high of 51 Canadian cents.
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