By Euan Rocha
Reuters
Monday, April 21, 2014
TORONTO -- Talks between Barrick Gold Corp and Newmont Mining Corp about a potential merger have hit a snag, but sources close to the situation say the companies remain keen to reach a deal and discussions are likely to resume.
The talks had been on for a few weeks, and the two sides had broadly agreed to a transaction under which Toronto-based Barrick would acquire Denver-based Newmont in an all-stock deal, said one source close to the matter.
The sources, who asked not to be named due to the sensitive nature of the situation, said the talks have stalled over the issue of the spin-out of some assets from the combined entity, which is among the hurdles to a deal.
After the close of a tentative deal, shareholders in the combined entity would also get shares in a new company that is likely to include assets in Australia and New Zealand. But the two companies have not yet agreed on a final mix of assets in the spun-out entity, said one source, adding that the new entity could include some assets from outside that region.
... For the full story:
http://www.reuters.com/article/2014/04/21/us-...offer-barric...
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