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Precious Metals M&A image Precious Metals M&A » By The Online Investor Staff, updated Sat., Apr. 17, 2:14 PM Recent mergers and acquisitions in the Precious Metals M&A category.

Slide #71. New Gold Rainy River Resources

Acquirer: New Gold (NGD.CA)
Acquiree: Rainy River Resources (RR.CA)
Details: New Gold Inc. ("New Gold") (TSX and NYSE MKT:NGD) and Rainy River Resources Ltd. ("Rainy River") (TSX: RR) today jointly announce that they have entered into a definitive acquisition agreement (the "Agreement"), whereby New Gold will offer to acquire all of the outstanding common shares of Rainy River through a friendly take-over bid. Under the terms of the Agreement, New Gold will offer, at the election of each holder of Rainy River common shares, 0.5 of a common share of New Gold or $3.83 in cash, in each case subject to pro ration (the "Offer"). The Offer represents a premium of 42% over the closing price of the Rainy River shares on the Toronto Stock Exchange on May 30, 2013, the last day of trading prior to announcement of the Offer, and a 67% premium to Rainy River's 20-day volume weighted average trading price. The maximum number of New Gold shares to be issued will be approximately 25.8 million and the maximum cash consideration will be approximately $198 million. The Offer values the fully-diluted in-the-money share capital of Rainy River, net of Rainy River's current cash balance, at approximately $310 million.

New Gold is an intermediate gold mining company. Co. is engaged in the development and operation of mineral properties. Co. has two core producing assets, the Rainy River gold mine and the New Afton gold-copper mine in Canada.

Open the NGD.CA Page at The Online Investor »

New Gold is an intermediate gold mining company. Co. is engaged in the development and operation of mineral properties. Co. has two core producing assets, the Rainy River gold mine and the New Afton gold-copper mine in Canada.

Open the RR.CA Page at The Online Investor »

Company Name: 
New Gold Inc
Website: 
www.newgold.com
Sector: 
Precious Metals
Number of ETFs Holding NGD.CA: 
3
Total Market Value Held by ETFs: 
$1.36M
Total Market Capitalization: 
$1.20B
% of Market Cap. Held by ETFs: 
0.11%
Company Name: 
Rainy River Resources Ltd
Website: 
www.rainyriverresources.com
Sector: 
Precious Metals
 

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