Vero Energy Inc. is joining with privately held Torc Oil and Gas Ltd. to create a new light-oil-focused company. The combined company, dubbed New Tord, will be led by Torc's existing management team. The deal values Vero at about $3 per share, representing a 48 per cent premium to its average trading price over the previous 10 days. The total transaction price is $177 million, including net debt.
