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Barrick Gold Corp
Symbol ABX
Shares Issued 1,167,593,272
Close 2018-11-05 C$ 17.31
Market Cap C$ 20,211,039,538
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Globe says Barrick shareholders okay Randgold takeover

2018-11-06 07:15 ET - In the News

The Globe and Mail reports in its Tuesday edition that Barrick Gold shareholders have voted overwhelmingly in favour of its $6-billion (U.S.) takeover of Randgold Resources Ltd. The Globe's Niall McGee writes that on Monday, 99 per cent of shareholders voted in favour of its zero-premium, allstock purchase of Jersey-based Randgold, which operates in Africa. Unlike Barrick's $7.3-billion purchase of copper miner Equinox Minerals in 2011, this deal has been warmly welcomed by shareholders on both sides. With the purchase of Randgold, Barrick is once again poised to become the undisputed heavyweight in the global gold industry in terms of market capitalization, production and reserves. In remarks to shareholders at the meeting in Toronto on Monday, John Thornton, Barrick's executive chairman, said that the two senior gold companies shared a similar cultural ethos. "Barrick and Randgold are cut from a single cloth," said Mr. Thornton, which is based on a decentralized, partnership-based, owner-centric business model. Barrick and Randgold have one final hurdle to clear before the deal can close, with Randgold shareholders holding their vote on the transaction on Wednesday.

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