4/4/2019, 11:44 PM (Source: TeleTrader)
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Goldcorp shareholders approve Newmont merger

Shareholders of Goldcorp Inc. voted overwhelmingly to approve the Newmont Mining Corp.'s merger bid, Goldcorp's board of directors announced.

The Colorado-based company said 97% stockholders supported the $10 billion cash-and-stock transaction, which is expected to close in the second quarter of 2019 and is pending the approval of Newmont's stockholders.

The combined entity, which will be called Newmont Goldcorp, is expected to begin delivering a combined $365 million in annual pre-tax synergies, supply chain efficiencies, and have the largest gold reserves and resources in the gold sector, including on a per share basis.

Breaking the News / MD