Coeur Mining to acquire New Gold in $7 billion all-stock deal

Coeur Mining Inc. (NYSE: CDE) announced it will acquire New Gold Inc. (NYSE American: NGD) in an all-stock transaction valued at approximately $7 billion, according to a press release statement.

Under the agreement, New Gold shareholders will receive 0.4959 shares of Coeur common stock for each New Gold share, implying consideration of $8.51 per New Gold share based on Coeur's October 31, 2025 closing price. This represents a 16% premium to New Gold's closing price on that date.

The transaction will create a combined company with seven North American mining operations expected to generate $3 billion of EBITDA and $2 billion of free cash flow in 2026. The combined entity is projected to produce approximately 20 million ounces of silver, 900,000 ounces of gold and 100 million pounds of copper annually.

Upon completion, existing Coeur stockholders will own approximately 62% of the combined company, while New Gold shareholders will hold about 38%. The pro forma combined entity will have an equity market capitalization of approximately $20 billion.

The transaction requires approval by 66⅔% of New Gold shareholders and a simple majority of Coeur stockholders. Both companies' boards of directors have unanimously approved the deal. Directors and senior officers of both companies have committed to vote their shares in favor of the transaction.

The agreement includes customary deal protections and break fees of approximately $414 million payable by Coeur and $255 million by New Gold under certain circumstances. The transaction is expected to close in the first half of 2026, subject to regulatory approvals and other customary closing conditions.

New Gold CEO Patrick Godin will join Coeur's board of directors along with one other current New Gold director upon closing. Several New Gold management team members are expected to join Coeur.

You May Also Be Interested In

• Trump: We May Hit Pickaxe Very Soon
• Honda Motor names Mamadou Diallo as Auto Business Center EVP
• Rottenstone Gold to acquire Great Bear royalty, plans name change