11:56 AM EST - Rainy River Resources Ltd. : and New Gold Inc. today jointly announced that they have entered into a definitive acquisition agreement, whereby New Gold will offer to acquire all of the outstanding common shares of Rainy River through a friendly takeover bid. Under the terms of the Agreement, New Gold will offer, at the election of each holder of Rainy River common shares, 0.5 of a common share of New Gold or $3.83 in cash, in each case subject to pro ration. The Offer represents a premium of 42% over the closing price of the Rainy River shares on the Toronto Stock Exchange on May 30. Rainy River Resources Ltd.
shares T.RR are trading up $0.95 at $3.65.
