Deals
Barrick, Newmont Race to Plead Merger Cases to Top Investors
- Biggest shareholders holding their cards close to their vest
- Smaller investors cite their backing of executive teams
Photographer: Akos Stiller/Bloomberg
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Executives at Barrick Gold Corp. and Newmont Mining Corp. are racing to sway a core group of top investors in both companies to support their own mega-merger over that of their rival.
By next Wednesday, Barrick Chief Executive Officer Mark Bristow said he expects he will have talked with “pretty much every one” of the company’s top-10 shareholders. So far those conversations have been “a lot more productive than some of the first meetings in the Randgold-Barrick transaction where we had to do some convincing of the logic of an at-market transaction,” he said Thursday by phone.