Paulson & Co Inc will not support Newmont Mining’s planned $10-billion takeover of rival Goldcorp Inc as the premium offered is unjustified, the investor said in a letter on Thursday.
The transaction is dilutive to Newmont shareholders and only Goldcorp shareholders would benefit from the deal’s synergies, Founder John Paulson and Partner Marcelo Kim said in the letter to Newmont CEO Gary Goldberg.