Barrick Shareholders Approve Randgold Merger
November 05 2018 - 1:12PM
Dow Jones News
By Stephen Nakrosis
Barrick Gold Corporation (ABX)said Monday the company's
shareholders voted to approve the issuance of Barrick common shares
in connection with the announced merger of Barrick and Randgold
Resources Limited (GOLD).
Barrick in September announced an agreement to buy Randgold
Resources Ltd. for $6 billion in an all-share merger. The tie-up
will create the world's largest gold company, worth $18
billion.
Under the terms of the deal, Barrick shareholders will own 67%
of Randgold, and Randgold investors will own 33% of Barrick.
The issuance of shares was approved by more than 99% of the
votes cast at Monday's special meeting of shareholders, Barrick
said.
The merger is expected to be completed on Jan. 1, 2019, subject
to approval by Randgold shareholders, approval by the Royal Court
of Jersey, and other customary closing conditions, Barrick
said.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
November 05, 2018 12:57 ET (17:57 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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