Newmont Mining Corp. rejected Barrick Gold Corp.'s $17.8 billion unsolicited takeover bid, a deal that would've created the world's largest gold producer.
The board unanimously rejected the proposal, saying it would not be better than Newmont's previously announced takeover of Goldcorp Inc., the Colorado-based company said in a statement today. Instead, Newmont submitted a joint venture proposal to Barrick that would encompass the two companies' Nevada operations.
"The combination with Goldcorp is significantly more accretive to Newmont's shareholders on all relevant metrics compared to Barrick's proposal, even when factoring in Barrick's own synergy estimates," Goldberg said in the statement. ...
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