Barrick vs Newmont

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Barrick vs Newmont

Barrick Gold has made an unsolicited, all-share bid for Newmont Mining. If Newmont accepts the $17.85 billion offer, the world's biggest gold miners would be united and—Barrick claims—costs would go down. Newmont CEO Gary Goldberg: "At this stage, they propose an 8% discount to our close on Friday. That doesn't make sense…Look at our record of good delivery and Barrick's destruction of value."
 
Barrick and Newmont

Flossbach von Storch, which owns a lot of shares in both Barrick Gold and Newmont Mining, has backed the merger proposed by Barrick, as long as it is "seamless and not too hostile." Shareholders such as Flossbach von Storch and BlackRock will be key to the future of the bid. Financial Times
 
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