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Stock Market & Financial Investment News

News Breaks
June 18, 2013
07:37 EDTNGDNew Gold commences formal take-over bid to acquire Rainy River Resources
New Gold and Rainy River Resources jointly announce that New Gold has formally commenced its previously announced take-over bid to acquire all of the outstanding common shares of Rainy River at a price of $3.83 per share. The Offer represents a premium of 67% to the volume weighted average price of Rainy River shares on the Toronto Stock Exchange for the 20 trading days ended May 30, the last trading day prior to announcement of New Gold's intention to make the Offer. Pursuant to the Offer, Rainy River shareholders will be entitled to receive, at their option, either $3.83 in cash or 0.5 of a New Gold share, in each case subject to pro ration, for each Rainy River share they own. The maximum amount of cash payable by New Gold under the Offer will be approximately $198M and the maximum number of shares issuable by New Gold will be approximately 25.8M, based on the number of Rainy River shares outstanding on May 30 on a fully-diluted basis as such term is defined in the Offer. The Offer is subject to customary conditions, including that a minimum of 66 2/3% of the outstanding Rainy River shares are tendered to the Offer. The Offer values the fully-diluted in-the-money share capital of Rainy River, net of Rainy River's current cash balance, at approximately $310M.
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April 16, 2014
10:00 EDTNGDOn The Fly: Analyst Upgrade Summary
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07:08 EDTNGDNew Gold upgraded to Buy from Hold at Canaccord
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