Boston, MA 05/05/2014 (wallstreetpr) – Recently, Barrick Gold Corporation (USA) (NYSE:ABX) has posted clarifications confirming that the company is entering into a merger with Newmont. The company has already negotiated a term sheet, which has already been signed by both the parties. The companies expect this agreement to prove to be in accordance with the interests of the shareholders. We hope that this merger works out for the companies. Recently, Barrick Gold has announced the election of its Directors.
The merger is happening
Barrick Gold has signed a term sheet regarding its proposed merger with Newmont. This agreement was signed and agreed signed by the parties on April 8, 2014 itself. Barrick Gold Corporation (USA) (NYSE:ABX) had posted this clarification in response to the press release posted by Newmont Mining first. This merger is expected to prove very beneficial for the shareholders. This fact was agreed fully by both Barrick Gold and Newmont.
Since the signing of the term sheet, Newmont has been seeking to revoke the three fundamental features of the agreement between the parties, Barrick Gold reports. The three basic terms were regarding the location of the merged company’s head office, the carefully construed and agreed terms related to governance arrangements and the specific assets to be identified to be included in the merged company. The head office of the proposed company was agreed to be located in Toronto.
Election of Directors
Barrick Gold Corporation (USA) (NYSE:ABX) has reported that the information circular for the 2014 Annual and Special Meeting of Shareholders has the list of nominees that have been elected as the directors of Barrick. The Annual and Special Meeting of Shareholders was conducted in Toronto on April 30, 2014. The results were declared in the same meeting. The nominees named were William Birchall, Gustavo Cisneros, Ned Goodman, J. Brett Harvey, Nancy H.O. Lockhart, DambisaMoyo, Anthony Munk, David Naylor, Steven J. Shapiro, John L. Thornton, Jamie C. Sokalsky and Ernie L. Thrasher.