4/18/2019, 9:05 AM (Source: TeleTrader)
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Newmont Goldcorp established in giant merger

After the regulatory and customary conditions have been met, Newmont Mining Corp. and Goldcorp Inc. have concluded the agreed deal to combine into the biggest gold producer in the world. They said in an announcement published on Thursday that the Vancouver-based company is being delisted, where it would continue to trade in Toronto until April 22.

Shares of Newmont Mining, renamed to Newmont Goldcorp Corp., remain at the New York Stock Exchange and they will be launched on the Toronto Stock Exchange (TSX) with the ticker NGT, according to the acquisition documents. The takeover is immediately accretive to the net asset value per share by 27% and the 2020 cash flow per share by 34%, the statement reveals.

Newmont estimates annual pre-tax synergies and other benefits at $365 million, with $4.4 billion in net present value before taxes. The precious metals miner targets six to seven million ounces of gold over the next decade. It promised the highest dividend in its category and an internal rate of return (IRR) of at least 15%.

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