Barrick Gold Corp's founder and outgoing chairman Peter Munk criticized potential takeover target Newmont Mining Corp in an interview with the National Post newspaper on Thursday, saying the U.S. miner is "not shareholder-friendly." Merger talks between the two gold miners broke down last Thursday, but there have been some discussions between their representatives since then, sources familiar with the matter said on Wednesday.In particular, Munk criticized Newmont for shutting reporters out of its recent annual meeting, something he said Barrick would not do."That's the cultural difference. That's the kind of people they are, and that's why it's so difficult to make a deal," he said, according to the National Post. "They are not shareholder-friendly."Munk, who is set to step down at Barrick's April 30 annual meeting, also said he believes a merger with Newmont is "just a matter of time" because of the potential cost savings.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. Shares of ABX fell by 1.91% or $-0.34/share to $17.47. In the past year, the shares have traded as low as $13.43 and as high as $21.70. On average, 12713100 shares of ABX exchange hands on a given day and today's volume is recorded at 13355357.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. Shares of ABX fell by 1.74% or $-0.34/share to $19.25. In the past year, the shares have traded as low as $14.22 and as high as $23.78. On average, 3133070 shares of ABX.TO exchange hands on a given day and today's volume is recorded at 4679439.
Newmont Mining Corporation, is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Indonesia, Ghana, New Zealand and Mexico. Shares of NEM fell by 1.66% or $-0.43/share to $25.49. In the past year, the shares have traded as low as $20.79 and as high as $35.44. On average, 10270000 shares of NEM exchange hands on a given day and today's volume is recorded at 11985403.
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