The Globe and Mail reports in its Tuesday edition that Coeur Mining plans to acquire New Gold for $9.5-billion, putting one of Canada's top gold producers under American ownership, pending approval. The Globe's Tim Kiladze writes that Coeur hopes to buy New Gold in an all-stock deal worth about $12 a share, a 16-per-cent premium to New Gold's market price before the deal was announced. Coeur shareholders will own 62 per cent of the combined company, while New Gold shareholders will own 38 per cent. Toronto-based New Gold owns two projects: the New Afton mine near Kamloops, which also produces copper, and the Rainy River mine in Northern Ontario. Until recently, the company has struggled to attract investor interest. In September, 2022, New Gold's shares traded around 82 cents, but the stock surged as gold prices more than doubled and investors were impressed by the company's operating results. Before the proposed takeover, New Gold traded at about 1.3 times its net asset value, while its peers traded at an average of 0.75 times their net asset values, according to RBC. Coeur, with five mines in Mexico and the U.S., has seen its shares rise significantly, particularly in August and September as silver prices soared.