Barrick eyes hostile bid for Newmont, Toronto Globe and Mail says
Submitted by cpowell on 02:17PM ET Friday, February 22, 2019. Section:
By Niall McGee and Rachelle Younglai
The Globe and Mail, Toronto
Thursday, February 21, 2019
Barrick Gold Corp. is mulling a takeover bid for Newmont Mining Corp.,
a transaction that would represent one of the largest mining deals ever
and solidify the Toronto-based companys position as
the world's largest gold producer.
Barrick is working on a plan for a two-step deal that would see it
take over Colorado-based Newmont for about US$19 billion in stock,
then flip some of Newmont's assets to Australia's Newcrest Mining,
according to industry sources familiar with the situation.
... Dispatch continues below ...
The sources, who were granted anonymity by The Globe because they were
not authorized by their employers to speak publicly, cautioned that
there are still a number of hurdles.
One of those obstacles is winning support from shareholders of Newmont.
The company is attempting to close its own US$10 billion acquisition of
Vancouver miner Goldcorp Inc., which was announced only last month.
Under the potential terms of the deal, Barrick would keep
Newmonts Nevada and African mines, while Newcrest would take over its
Australian operations, which are worth billions. ...
... For the remainder of the report: https://www.theglobeandmail.com/business/article-barrick-eyes-hostile-bi
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