Barrick Gold: Newmont Mining's board rejects offer
(CercleFinance.com) - The Canadian group Barrick Gold wanted to takeover its US competitor Newmont Mining.
The Canadian group appears to have been considering a joint offer with the Australian company Newcrest Mining.
Newmont Mining today said that its Board of Directors has unanimously decided that Barrick Gold's offer to acquire Newmont was not in the best interest of Newmont's shareholders.
After careful consideration in consultation with its financial and legal advisors, the Newmont Board has unanimously concluded that Barrick's proposal did not, and would not reasonably be expected to, constitute a reasonable proposal for Newmont Mining.
It said, “The Company's previously announced combination with Goldcorp represents a superior value creation opportunity to generate long-term value through an unmatched portfolio of world class operations, projects, exploration opportunities, reserves and talent.”
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The Canadian group appears to have been considering a joint offer with the Australian company Newcrest Mining.
Newmont Mining today said that its Board of Directors has unanimously decided that Barrick Gold's offer to acquire Newmont was not in the best interest of Newmont's shareholders.
After careful consideration in consultation with its financial and legal advisors, the Newmont Board has unanimously concluded that Barrick's proposal did not, and would not reasonably be expected to, constitute a reasonable proposal for Newmont Mining.
It said, “The Company's previously announced combination with Goldcorp represents a superior value creation opportunity to generate long-term value through an unmatched portfolio of world class operations, projects, exploration opportunities, reserves and talent.”
Copyright (c) 2019 CercleFinance.com. All rights reserved.