🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Barrick shareholders set to approve Randgold acquisition -sources

Published 2018-11-02, 06:36 p/m
© Reuters.  Barrick shareholders set to approve Randgold acquisition -sources
RRS
-
GOLD
-

TORONTO, Nov 2 (Reuters) - Barrick Gold ABX.TO shareholders have voted overwhelmingly in favor of the Canadian miner's $6.1 billion acquisition of Africa-focused Randgold Resources RRS.L , three people familiar with the preliminary vote count told Reuters on Friday.

Around 99 percent of the votes tendered so far by Barrick investors are in support of the all-stock, no premium deal announced in September, two of the people said, surpassing the simple majority required to seal the deal.

The vast majority of institutional investors have cast their votes ahead of the remainder of Barrick shareholders who are set to vote on the transaction on Monday, the people said, declining to be identified as the information is not public.

Randgold has also got adequate shareholder support ahead of its Nov. 7 meeting, one of the sources said, though the level of approval was unclear.

London-listed Randgold requires the support of 75 percent of the shares voted by a majority of its shareholders.

Barrick declined to comment. Randgold did not immediately respond to a request for comment.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.