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Tuesday, February 20, 2024

Newmont CEO says shareholders do not see value in Barrick bid

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HOLLYWOOD, Fla (Reuters) – Newmont Mining Corp Chief Executive Gary Goldberg said on Monday that Barrick Gold Corp’s $18 billion hostile bid for his company is perplexing to his shareholders and not in the best interest of both miners.

Newmont shareholders “don’t understand it. They don’t see the value potential,” Goldberg said on the sidelines of the BMO Global Metals & Mining Conference in Florida. “One has to question what the true motives behind going hostile are: Whether it’s really just to get bigger or it’s all ego-driven.”

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