( Bloomberg / Simon Dawson )“This is the reason that we have, after some deliberation, decided to make an unsolicited but clearly superior proposal to the Newmont shareholders,” Bristow said. Instead they appear to be pursuing the same hostile and value-destructive tactics that their executive chairman has pursued since arriving at Barrick.” In making the offer hostile by taking it directly to Newmont shareholders, Barrick will let them decide who has the best value proposition. Under Barrick’s zero-premium proposal, Newmont shareholders would receive 2.5694 Barrick shares for each Newmont share they hold. Barrick shareholders would end up owning 55.9 per cent of the combined company and the rest would be owned by shareholders of Newmont. And they are readily more quantifiable than those identified in the Newmont Goldcorp transaction,” he said in a note.

Source: thestar February 25, 2019 12:14 UTC