05:45:50 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,167,158,762
Close 2018-09-21 C$ 13.52
Market Cap C$ 15,779,986,462
Recent Sedar Documents

Globe says Barrick to take over Africa's Randgold

2018-09-24 08:08 ET - In the News

The Globe and Mail reports in its Monday edition that Barrick Gold is swallowing African operator Randgold Resources in a takeover worth $6-billion (U.S.) which will ensure its status as the world's biggest gold company, and bring in a chief executive officer for the first time since 2014. The Globe's Eric Reguly and Niall McGee write that the all-share, no-premium deal, which will value the combined company at $18.3-billion (U.S.), seems designed to overcome Barrick's problems in Africa, where it controls mines through its 64-per-cent ownership of Acacia, and perceived weakness among its senior management ranks. Barrick has no CEO and lost its president, Kelvin Dushnisky, last month. The deal marks the first big expansion by Barrick executive chairman John Thornton after four years of shrinking the company through mine sales, mine closures and the recruitment of Chinese partners at some of its operations. Mark Bristow, the well-regarded CEO of Randgold, is to become the CEO of the enlarged company, which will keep the Barrick name. Mr. Thornton, a former president of Goldman Sachs, will remain as executive chairman. Graham Shuttleworth, Randgold's chief financial officer, takes the CFO role at the combined company.

© 2024 Canjex Publishing Ltd. All rights reserved.