05:55:51 EDT Sat 27 Apr 2024
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or Name
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Barrick Gold Corp
Symbol ABX
Shares Issued 1,755,349,661
Close 2023-04-11 C$ 26.17
Market Cap C$ 45,937,500,628
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Globe/wire say Barrick could be dwarfed by Newmont

2023-04-12 09:02 ET - In the News

The Globe and Mail reports in its Wednesday edition that Newmont laid down a best and final offer for Australia's Newcrest Mining on Tuesday at $29.4-billion (Australian) ($26.3-billion) to close a deal that would extend Newmont's lead as the world's biggest gold producer. A Reuters dispatch to The Globe says that if successful, the deal would lift Newmont's gold output to nearly double its nearest rival, Barrick Gold. The merger is set to be the third-largest deal ever involving an Australian company and the third-largest globally in 2023, according Reuters calculations. Newcrest said on Tuesday it had given Newmont access to its books following the sweetened all-share bid that has received some support from shareholders. Under the revised offer, Newcrest shareholders would receive 0.400 Newmont share for each share held, with an implied value of $32.87 (Australian) a share. "We always thought there would be another bump coming through. It's probably enough for us," said Andy Forster, senior investment officer at fund manager Argo Investments in Sydney. Barrick and miner Sibanye Stillwater Ltd. have told Reuters they are not interested in bidding for Newcrest.

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