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Barrick Gold Corp
Symbol ABX
Shares Issued 1,751,981,799
Close 2019-03-11 C$ 17.69
Market Cap C$ 30,992,558,024
Recent Sedar Documents

Post says investors wonder what else Barrick's planning

2019-03-12 09:26 ET - In the News

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

The Financial Post reports in its Tuesday edition that Barrick and Newmont, the two largest gold producers in the world, ended their feud Monday and agreed to work together in the Nevada desert where both companies operate vast mining complexes. The Post's Gabriel Friedman writes that almost immediately, questions surfaced about whether it was a prelude to a larger deal between the two giants and Barrick chief executive officer Mark Bristow declined to rule out such an idea. Asked by one analyst whether the Nevada joint venture is merely "a stepping stone" to greater consolidation, Mr. Bristow chuckled, "I'm not prepared to comment on that." As part of that agreement announced Monday, however, Barrick agreed to drop its $17.8-billion (U.S.) hostile bid for Colorado-headquartered Newmont and to commit to a two-year standstill that prevents further action. Even though Barrick was offering an 8-per-cent discount on Newmont's price, its offer stirred many analysts' appetite for greater consolidation in the sector on the belief that generalist investors have fled the sector after years of poor returns as most companies lack adequate liquidity and diversification. Newmont still plans to close its purchase of Goldcorp.

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