NYSE-listed Newmont Mining Corporation’s board of directors has unanimously determined that NYSE- and TSX-listed Barrick Gold Corporation made an unsolicited, all-stock negative premium proposal to acquire Newmont, which was not in the best interest of shareholders.
The Newmont board undertook a comprehensive review of the offer, in consultation with its financial and legal advisers, and found that Barrick’s proposal does not constitute a superior proposal, as is defined in the arrangement agreement between Newmont and NSE- and TSX-listed Goldcorp.