Newmont rejected Barrick Gold’s unsolicited $18 billion proposal, but offered an alternative: a joint venture of its Nevada operations
The future of the world’s biggest gold-mining deal hinges on a chunk of terrain that is among the most valuable in America: the gold fields of Nevada.
Newmont Mining Corp. formally rejected Barrick Gold Corp.’s unsolicited $18 billion proposal and offered an alternative: a joint venture of the two miners’ Nevada operations. Toronto-based Barrick’s merger plan is anchored in a plan to strip out nearly $7.1 billion of costs in a combined company. All but $2.4 billion of that, they say, can be squeezed from combining the two...
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