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BRIEF-Newmont Board Unanimously Determines That Barrick’S Unsolicited, Negative Premium Proposal Is Not In Newmont Shareholders’ Best Interests

Published 2019-03-04, 08:15 a/m
© Reuters.  BRIEF-Newmont Board Unanimously Determines That Barrick’S Unsolicited, Negative Premium Proposal Is Not In Newmont Shareholders’ Best Interests
NEM
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March 4 (Reuters) - Newmont Mining Corp (NYSE:NEM) NEM.N :

* NEWMONT BOARD UNANIMOUSLY DETERMINES THAT BARRICK'S UNSOLICITED, NEGATIVE PREMIUM PROPOSAL IS NOT IN NEWMONT SHAREHOLDERS' BEST INTERESTS

* PROVIDES TERM SHEET FOR NEVADA JOINT VENTURE WITH BARRICK

* NEWMONT'S PROPOSED COMBINATION WITH GOLDCORP IS EXPECTED TO CLOSE IN Q2 OF 2019

* TERMS OF JV PROPOSAL TO COMBINE NEVADA-RELATED OPERATIONS INCLUDE THAT BARRICK TO HOLD ECONOMIC INTEREST EQUAL TO 55 PERCENT

* NEWMONT GOLDCORP, BARRICK WILL HAVE EQUAL NUMBER OF REPRESENTATIVES ON MANAGEMENT & TECHNICAL COMMITTEES UNDER TERMS OF PROPOSED JV

* PROHIBITED UNDER PROVISIONS OF GOLDCORP MERGER AGREEMENT FROM ENGAGING WITH BARRICK IN RELATION TO ITS PROPOSAL

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