Cassels, Shearman Rep New Gold In $513M Richfield Buy

Law360, New York (April 5, 2011, 4:14 PM EDT) -- Canadian gold mining company New Gold Inc. on Monday announced it had agreed to acquire mineral exploration company Richfield Ventures Corp. for $513 million.

Under the terms of the deal, Richfield shareholders will receive .9217 of a New Gold share for each of their Richfield shares, which values Richfield at $10.38 per share — a 31 percent premium on Richfield's closing price on Friday and a 46 percent premium on each company's 20-day volume-weighted average price, according to the companies.

The deal has already been unanimously...
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