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...Newmont is attempting to win support for its $10bn acquisition of Canadian gold miner Goldcorp, which will be voted on next month by shareholders....
...BlackRock is also a large shareholder in Goldcorp, with a 7.2 per cent stake. If a deal is called off, shares in Goldcorp are likely to fall sharply....
...Barrick had attempted to take over Newmont and thwart its planned acquisition of Goldcorp....
...Shares in Goldcorp fell by 3.4 per cent in Toronto to C$14.43....
...New York hedge fund Paulson & Co said it opposes Newmont Mining’s planned $10bn acquisition of Canada’s Goldcorp, saying it shouldn’t reward Goldcorp shareholders by paying a premium....
...Shares in Vancouver-based Goldcorp have fallen by 26 per cent under Mr Garofalo, while he was paid over C$16m in aggregate compensation in 2016 and 2017, the group said....
...In a sign of the growing hostilities between the two companies, Newmont released private communications between Mr Bristow and Ian Telfer, Goldcorp chairman, in which Mr Bristow praised Goldcorp’s “strong...
...Others expressed disappointment at the projected $100m of annual cost savings from the Newmont-Goldcorp deal. “Newmont has nothing in Canada. Goldcorp don’t have anything in the US....
...In Canada, Goldcorp’s Musselwhite mine below Opapimiskan Lake also has potential, Mr Palmer said....
...Even if Newmont dropped the Goldcorp deal, adding a $650m break fee would not move that needle much....
...That is the question investors are asking after Newmont Mining made a $10bn swoop for Canada’s Goldcorp, a deal that will create the world’s leading gold producer....
...Including debt, the deal values GoldCorp at $12.5bn....
...The move threatens to thwart Newmont’s $10bn acquisition of Canadian miner Goldcorp, which it announced in January....
...In a month’s time Newmont shareholders will vote on a $10bn takeover of Vancouver-based Goldcorp....
...In an updated investor presentation on Tuesday, Barrick said Newmont’s deal with Goldcorp would dilute the quality of Newmont’s assets....
...Barrick Gold reported a $412m net loss late on Wednesday due to a $405m impairment on its Lagunas Norte project in Peru, while Goldcorp said it swung to a $101m loss from a net profit of $111m a year earlier...
...The deal would have created a company with a market value of $8bn and production of 6m ounces of gold a year, in line with the amount targeted by the combination of Newmont and Goldcorp....
...Mr Bristow has to convince a small group of investors who have shareholdings in both companies that the deal makes more sense than Newmont’s planned $10bn acquisition of Vancouver-based Goldcorp, which was...
...This week gold mining company Barrick Gold made an $18bn unsolicited offer in a bid to gatecrash Newmont’s already agreed deal with rival Goldcorp....
...Defending his deal for Goldcorp, Goldberg accused Barrick of have an “ineffective operating mode” and a “poor track record” on delivering shareholder returns. Youch!...
...Paulson is one the largest holders of gold and mining companies, with stakes in Randgold, AngloGold Ashanti, Goldcorp and NovaGold, according to the most recent filings....
...The NYSE Arca Gold BUGS index, consisting of 17 gold miners including Barrick Gold and Goldcorp that are listed on a major US exchange, is up 5.5 per cent so far this week — leaving it on track for its biggest...
...Barrick Gold and fellow gold miner Goldcorp have teamed up to develop projects in Chile’s Atacama desert, the two companies announced....
...Canadian gold miners also took a hit, with Franco-Nevada dipping 0.5 per cent and Goldcorp nudged 0.9 per cent lower....
...Meanwhile, Goldcorp shares have advanced 8.4 per cent so far this year to $12.53, while AngloGold Ashanti shares are up 33.9 per cent year-to-date to $9.51, despite slipping 0.3 per cent on Friday....
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