Deals
Barrick's Randgold Acquisition May Spur More Gold M&A
- A Barrick-Newmont potential deal back on radar screen: Siperco
- Barrick likely to sell other non-core assets, Sprott says
Photographer: Carla Gottgens/Bloomberg
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Gold miners earned the ire of investors including billionaire hedge-fund manager John Paulson for entering into bad deals that destroyed shareholder value in the past. Shareholders of the two companies announcing a merger Monday signaled they think this time may be different.
Barrick Gold Corp. Executive Chairman John Thornton said his company isn’t paying a premium under its agreement to buy Randgold Resources Ltd. The decision came after the company has been criticized for its “undisciplined growth and poor returns” in the past.