Barrick and Randgold agree an all-share merger

Randgold holders were offered 6.128 Barrick shares for each share, giving them about 33.4% of the combined group. The ratio carried no premium to recent trading.

Why it matters. A zero-premium, all-share deal: value comes from management and portfolio, not from a price paid.

Source

Barrick

In the course

Module 9: The M&A process