Gold mining company Barrick on Monday announced that it had made a proposal to the Newmont board of directors to merge with Newmont in an all-share transaction, saying a combination of the two companies would form the world’s best gold company with unprecedented potential for value creation. Barrick president and CEO Dr Mark Bristow said the proposed merger was expected to unlock more than $7 -billion net present value before tax of real synergies, a major portion of which would be generated by combining the two companies’ highly complementary assets in Nevada, including Barrick’s significant mineral endowments and Newmont’s processing plants and infrastructure.
