According to Reuters, Newmont Mining (NEM) approached by Barrick Gold (GOLD)

  • February 22, 2019

POTENTIAL DEAL DETAILS

StockNewmont Mining CorporationSymbolNEM
Date Announced02/21/2019Source Reuters
TypeNews Report

Canada’s Barrick Gold Corp (GOLD) is exploring a hostile bid for Newmont Mining Corp (NEM) for about $19 billion in stock, potentially one of the largest mining deals ever, the Globe and Mail reported on Thursday, citing industry sources familiar with the situation.

Update(s):

February 24, 2019: Newmont Mining Corp. (NEM)  said Sunday that rival miner Barrick Gold Corp. (GOLD) has taken a small stake in the company and proposed to make it easier for Newmont stock owners to call a shareholder meeting, a move that comes ahead of a potential hostile bid by the Canadian company.

February 25, 2019: Barrick Gold Corporation (GOLD) today announced that it has made a proposal to the Newmont Mining Corporation (NEM) Board of Directors to merge with Newmont in an all-share transaction, saying a combination of the two would form the world’s best gold company with unprecedented potential for value creation.

February 25, 2019: Barrick Gold Corp. (GOLD) said Monday it has proposed an all-share merger with Newmont Mining Corp., (NEM)  a move that could create a mining giant that would be valued, at current market prices, at around $42 billion.

March 01, 2019: Barrick Gold Corp. (GOLD)  has no intention of increasing its hostile offer for Newmont Mining Corp., (NEM) according to a person familiar with the matter who asked not to be identified because the talks are private.

March 04, 2019: Newmont Mining Corp.  (NEM) rejected Barrick Gold Corp.’s (GOLD) $17.8 billion unsolicited takeover bid, a deal that would’ve created the world’s largest gold producer.

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