MRO Magazine

Barrick shareholders vote more than 99 per cent in favour of Randgold takeover


Industry

November 12, 2018
November 12, 2018
The Canadian Press


Industries

TORONTO – Barrick Gold Corp. says shareholders have voted more than 99 per cent in favour of a takeover of Randgold Resources Ltd.

The proposed combination of the two companies, announced in September, would add gold mine properties in Mali, Senegal, Ivory Coast, and the Democratic Republic of Congo to Barrick’s portfolio.

The deal would also see Randgold chief executive officer Mark Bristow move to the same role at Barrick.

Randgold shareholders are set to vote on the merger Wednesday.

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Last week, Barrick sweetened its offer to Randgold shareholders by boosting the dividend offer for 2018 to $2.69 per Randgold share from the $2 initially proposed.

The all-share takeover, which valued Randgold at about $7.9-billion when announced, would restore Barrick’s status as theworld’s largest gold miner.


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