Barrick drops Newmont bid

BARRICK Gold has withdrawn its hostile takeover bid for Newmont Mining in favour of a Nevada joint venture.

Barrick drops Newmont bid Barrick drops Newmont bid Barrick drops Newmont bid Barrick drops Newmont bid Barrick drops Newmont bid

Barrick's Turquoise Ridge mine will be part of the Nevada JV

It comes after Newmont formally rejected the bid last week and proposed a JV.

Newmont had proposed a 55:45 JV in favour of Barrick, but the two companies settled on a split of 61.5% Barrick and 38.

 

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