Newmont shareholders approve $10 billion Goldcorp takeover

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Newmont shareholders approve $10 billion Goldcorp takeover

On Thursday, the 11th of April 2019, Shareholders of Colorado-based Newmont mining corp., had approved their company’s acquisition by Goldcorp Inc. at a $10 billion takeover deal, setting the stages for creating the world’s largest gold producer with gold mining fields across America, Africa and Australia.

At a special meeting over Goldcorp Inc.’s takeover bid on Thursday (April 11th) delivered an affirmative outcome to the acquisition deal after Goldcorp Inc.’s investors had voted to approve the all-stock buyout deal last week.

Followed by the special meeting over a historic takeover bid, the largest in gold mining industry, Denver-based Newmont had issued a statement saying that about 98 percent stakeholders had voted in favor of the acquisition bid.

Initially, the takeover bid had met with some obstacles from Newmont investors, as they said that the bid could excessively favor Goldcorp shareholders, however, later the Newmont shareholders rallied behind the offer over promise of a special dividend.

According to the statement, a special dividend of 0.88 cent per share would be paid on May 1st to the shareholders, holding the Newmont shares up to April 17th. Followed by the approval from its shareholders, thanking Newmont’s shareholders, Chief Executive, Gary Goldberg said in a statement, “We thank Newmont’s shareholders for their overwhelming support for this compelling value creation opportunity as we build the world’s leading gold company”