Barrick Shareholders Approve Randgold Merger

Date : 11/05/2018 @ 6:12PM
Source : Dow Jones News
Stock : Randgold Resources Limited ADS Each Represented BY One Ordinary Share (delisted) (GOLD)
Quote : 82.89  0.0 (0.00%) @ 1:00AM

Barrick Shareholders Approve Randgold Merger

Barrick Gold (NYSE:ABX)
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   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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