Barrick, Newmont Race to Plead Merger Cases to Top Investors

Barrick Gold announced a $17.8 billion hostile bid for Newmont, aiming to unlock $7 billion in value. The bid was made before Newmont could complete its merger with Gold Corp. CEOs Gary Goldberg and Mark Bristow exchanged criticisms over the deal, with both companies reaching out to investors, many of whom overlap. The deal's success may hinge on personalities and investor preferences. Barrick argues that synergies are the premium, while Newmont questions the $7 billion figure. The no premium approach began with John Thornton's bid for Randgold, aiming to overhaul the industry.

What was the main reason for Barrick Gold's hostile bid for Newmont?

• To acquire Gold Corp directly

• To prevent Newmont's merger with Gold Corp

• To unlock $7 billion of value for shareholders

• To diversify its portfolio

What is a significant factor influencing the merger between Barrick and Newmont?

• The geographical location of the companies

• The personalities of the CEOs

• The size of the companies

• The market share of the companies

How are Barrick and Newmont trying to gain support for their respective deals?

• By merging with other companies

• By reducing operational costs

• By offering higher premiums

• By reaching out to large investors

What is Barrick's justification for not offering a premium in their deal?

• The synergies are considered the premium

• They plan to offer a premium later

• They believe the market will adjust

• They are focusing on cost-cutting

What historical event influenced Barrick's no-premium strategy?

• The merger of Newmont and Gold Corp

• The rise in gold prices

• John Thornton's bid for Randgold

• The acquisition of Black Rock