06:17:13 EDT Wed 24 Apr 2024
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Barrick Gold Corp
Symbol ABX
Shares Issued 1,751,516,088
Close 2019-02-22 C$ 17.13
Market Cap C$ 30,003,470,587
Recent Sedar Documents

FP says Newmont Mining moving forward on Goldcorp

2019-02-25 08:19 ET - In the News

See In the News (C-G) Goldcorp Inc (2)

The Financial Post reports in its Saturday, Feb. 23, edition that Newmont Mining announced on Friday that its $10-billion deal to purchase Goldcorp is moving forward after the latter obtained an interim plan of arrangement, throwing cold water on the idea that Newmont is interested in a merger with Barrick Gold. The Post's Gabriel Friedman writes that Barrick had issued a press release on Friday to confirm a report that said Barrick was studying the idea of making a no-premium $19-billion bid for Newmont. Newmont's Omar Jabara said: "We do not intend to speculate on Barrick's interest or motivation. We remain confident that the combination of Newmont and Goldcorp represents an unparalleled opportunity to create value for our shareholders and deliver industry-leading returns for decades to come." The interim plan of arrangement, obtained Friday from the Ontario Superior Court of Justice, allows Goldcorp to hold its shareholder meeting on April 4 to vote on the deal and is a necessary step toward closing its acquisition by Newmont. Newmont faces a $650-million break fee if it walks away from the deal with Goldcorp. Newmont and Barrick have broached the idea of a merger in the past but talks always fell apart.

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