$CDE (Coeur Mining Inc) is acquiring $NGD (New Gold Inc) in an all-stock deal worth ~$7 billion, forming one of the world’s top 10 precious metals and top 5 silver producers. Silver will make up 30% of total reserves.
The merged company will have seven North American operations, targeting $3B EBITDA and $2B free cash flow in 2026, with production of ~20M oz silver, 900K oz gold, and 100M lbs copper.
Deal terms: NGD shareholders receive 0.4959 CDE shares per NGD share, valuing NGD at $8.51/share (a 16% premium). Post-merger, CDE shareholders will own 62% and NGD shareholders 38% of the new company.
The combined entity’s stronger financial base will support organic growth projects, including New Afton’s K-Zone and exploration at Rainy River and other sites across the U.S., Mexico, and Canada.... Show More
Thanks, that makes the sudden drop make sense. I was scratching my head as to why the dip given the great potential of the deal. Since this implies that CDE should be worth around 13.8$ per share.
Which pulls the value down quite a bit and explains the drop.
That being said, I think this is a huge... Show More
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