Following the announcement of the joint venture (JV) between Newmont and Barrick, investors then turned their attention to the friendly Newmont/Goldcorp merger announced in January. It stood to reason that Goldcorp shareholders were not entitled to the Nevada JV synergies, which did not exist at the time the deal with Newmont was announced.
Again, at the urging of investors, Newmont decided to award a 2.5% special dividend to its shareholders as a partial upfront payment for future Nevada synergies. The dividend would be distributed if the Newmont/Goldcorp deal was approved by shareholders.
On April 4, Goldcorp announced that over 97% of its shareholders had voted for the merger at a special meeting in Vancouver. About 98% of Newmont shareholders approved the deal on April 11.
And, on April 18, Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) announced the successful conclusion of the transaction combining Newmont Mining Corporation and Goldcorp to form the world's leading gold business.
Newmont Mining vs. Barrick Gold Corp vs. Goldcorp Inc.
Source: Bloomberg.
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