By Nichola Saminather and Debroop Roy (Reuters) - Barrick Gold Corp on Monday pulled its $18 billion offer for Newmont Mining Corp and agreed to form a joint venture in Nevada with its rival, ending a hostile takeover bid that sought to unite the world's two largest gold producers.By combining their operations in the southwestern U.S. state, which is home to one of the world's largest gold-producing areas, Barrick and Newmont hope to save more than $5 billion over the next 20 years. Toronto-based Barrick will control 61.5 percent of the venture, giving it slightly less oversight than it initially wanted even as it gains full operational control over mines that produce more than 4 million ounces of gold annually. The agreement comes amid a pickup in deals across the gold industry, which has struggled with a loss of investor confidence and financing constraints in recent years."This is one of those rare transactions that really does create demonstrable value for everyone involved," … [Read more...] about Barrick Gold ends hostile Newmont bid, signs Nevada joint venture
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Barrick Gold moves to create world’s largest gold producer with hostile bid for Newmont
Barrick Gold Corp. is going hostile in its bid to acquire Newmont Mining Corp. and create the world’s largest gold producer by offering $17.8 billion for the company in all share deal. The offer raises the potential for a three-way fight between some of the world’s largest gold miners, and comes after Newmont’s chief executive blasted talks about a takeover as a “desperate” and “bizarre” move by Barrick. Barrick said it’s offering “at market” valuation of 2.5694 a share for each Newmont share. That implies that it’s valuing Newmont at $17.8 billion and $33.50 a share, an 8 percent discount to Friday’s close. The bid, if completed, would likely derail Newmont’s own $10 billion takeover of rival Goldcorp Inc., announced last month, putting a big question mark over the future of three large gold miners. It would also put an end to years of on-again, off-again talks to merge Barrick and Newmont, the latest of … [Read more...] about Barrick Gold moves to create world’s largest gold producer with hostile bid for Newmont
New Research: Key Drivers of Growth for Alkermes plc, PulteGroup, Las Vegas Sands, Barrick Gold, Avangrid, and Fomento Economico Mexicano S.A.B. de C.V — Factors of Influence, Major Initiatives and Sustained Production
NEW YORK, Oct. 31, 2018 (GLOBE NEWSWIRE) -- In new independent research reports released early this morning, Market Source Research released its latest key findings for all current investors, traders, and shareholders of Alkermes plc (NASDAQ:ALKS), PulteGroup, Inc. (NYSE:PHM), Las Vegas Sands Corp. (NYSE:LVS), Barrick Gold Corporation (NYSE:ABX), Avangrid, Inc. (NYSE:AGR), and Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX), including updated fundamental summaries, consolidated fiscal reporting, and fully-qualified certified analyst research. /EIN News/ -- Complimentary Access: Research Reports Full copies of recently published reports are available to readers at the links below. ALKS DOWNLOAD: http://MarketSourceResearch.com/register/?so=ALKS http://MarketSourceResearch.com/register/?so=PHM http://MarketSourceResearch.com/register/?so=LVS http://MarketSourceResearch.com/register/?so=ABX http://MarketSourceResearch.com/register/?so=AGR … [Read more...] about New Research: Key Drivers of Growth for Alkermes plc, PulteGroup, Las Vegas Sands, Barrick Gold, Avangrid, and Fomento Economico Mexicano S.A.B. de C.V — Factors of Influence, Major Initiatives and Sustained Production
Canada’s Barrick Gold to buy Randgold Resources in $18.3 billion deal
By Zandi Shabalala, Justin George Varghese and Clara Denina LONDON (Reuters) - Canada's Barrick Gold <ABX.TO> has agreed to buy Randgold Resources Ltd <RRS.L> in a $18.3 billion share deal to create the world's largest gold company by value and output in an industry under investor pressure to put capital to good use.The new Barrick company, which will be listed in New York and Toronto, will own five of the world's 10 lowest cost gold mines and will be valued at $24 billion including debt.The deal marks the biggest transaction in years in the gold mining industry, where companies have come under fire from investors for poorly managing capital, forcing them to focus on costs while dampening enthusiasm for acquisitions. "Randgold has the agility and swift-footedness of a younger and smaller company, much like Barrick in its early years while Barrick has the infrastructure and global reach of a large corporate company," Barrick Chairman John Thornton said in a conference … [Read more...] about Canada’s Barrick Gold to buy Randgold Resources in $18.3 billion deal
Barrick Gold President Departs to Lead AngloGold Ashanti
Toronto—Barrick Gold Corp. said its president, Kelvin Dushnisky, is leaving the company to join AngloGold Ashanti Ltd. as its chief executive officer. Barrick hasn’t named a new president. Mr. Dushnisky joined the Toronto-based gold miner in 2002 and has been president since 2015. Barrick is the world’s largest gold producer, and Mr. Dushnisky’s... … [Read more...] about Barrick Gold President Departs to Lead AngloGold Ashanti