Barrick and Newmont Gold Mining Merger
Synopsis
Barrick currently have a $18 billion all stock offer for Newmont on the table which would combine two of the worlds largest gold mining companies.
Barrick currently have a $18 billion all stock offer for Newmont on the table which would combine two of the worlds largest gold mining companies.
This comes at a time when Newmont were proposing a takeover of GoldCorp. The GoldCorp takeover offer, announced only in January, was already a handsome $10bn offer but this new offer looks to rock the boat. Investors include the monumental Blackrock which has stakes in both companies. The deal looks set to put a company in place with revenues of over $15.6bn and earnings of $7bn.
The production scale would dwarf any of the rivals and we can only expect more exciting news from the mining industry this year as mammoth companies seek to create synergies and savings by mergers and acquisitions.
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