Canadian gold miner Barrick Gold on Monday unveiled a proposed all-share merger with US-based gold major Newmont in transaction, which CEO Mark Bristow said would be “far superior” to Newmont’s proposed $10-billion acquisition of Goldcorp.
Touting the Barrick/Newmont deal as “logical and long overdue”, he said the merger would result in yearly synergies 7.5 times larger than the quoted synergies for the Newmont/Goldcorp transaction.