Barrick chief Bristow rules out higher offer for Newmont


By Henny Sanderson
Financial Times, London
Friday, March 1, 2019

Barrick Gold's boss Mark Bristow has ruled out increasing his offer for arch-rival Newmont Mining.

Mr. Bristow told the Financial Times that the $18 billion nil-premium, all-stock offer for Newmont was "logical" and would combine multiple world-class gold mines into one company.

Asked if Barrick would increase its offer for Newmont, Mr. Bristow said no.

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"What's better than five world-class assets? Eight," Mr. Bristow said. "We can demonstrate that it’s so logical. ..." Synergies "are about whether you put two things together is better or worse. And it’s far better."

Mr. Bristow has to convince a small group of investors who have shareholdings in both companies that the deal makes more sense than Newmont's planned $10 billion acquisition of Vancouver-based Goldcorp, which was announced in January. ...

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