Deals
Paulson Opposes Newmont-Goldcorp Merger Unless Price Lowered
- Goldcorp to reap unfair benefits from Barrick JV: hedge fund
- Paulson wants all-stock takeover price lowered by about 23%
A stack of gold bars sits in a Goldcorp Inc. vault.
Photographer: Bloomberg/BloombergThis article is for subscribers only.
Paulson & Co. says it won’t support Newmont Mining Corp.’s proposed $10 billion merger with Goldcorp Inc. unless the terms are changed.
One major concern is that Goldcorp shareholders are effectively receiving the benefits of the recently announced joint venture between Barrick Gold Corp. and Newmont for free, the hedge fund said Thursday in a statement. As a result, Paulson would like to see the price lowered about 23 percent.