Paulson no longer opposes Newmont-Goldcorp merger - Bloomberg
Mar. 25, 2019 4:38 PM ETNewmont Corporation (NEM), NGT:CANEMBy: Carl Surran, SA News Editor14 Comments
- Paulson & Co. says it is withdrawing its opposition to the terms of a merger between Newmont Mining (NYSE:NEM) and Goldcorp (NYSE:GG), after NEM promised a special dividend to its investors if the deal is approved.
- “Paulson & Co. commends the special dividend to Newmont shareholders,” a Paulson spokesperson tells Bloomberg. “Although the dividend is small, it is a step in the right direction... We will no longer oppose the transaction.”
- NEM shareholders Paulson & Co. and Van Eck International said last week that the merger proposal transferred to Goldcorp shareholders too much of the nearly $5B in synergies from a separate Nevada joint venture with Barrick Gold.