Barrick Buying Randgold: $8 Billion

Barrick Gold logo

CBJ — Barrick Gold is acquiring Randgold Resources in an all-share deal worth nearly $8 billion, making Barrick the undisputed largest gold producer in the world.

The merger, expected to close in the first quarter next year, brings together Toronto-based Barrick’s global portfolio heavily focused on the Americas and Randgold’s African focused operations.

Barrick executive chairman John Thornton will retain the same position following the merger.

Randgold chief executive Mark Bristow will become president and chief executive officer.

The deal is subject to approval by the shareholders of both companies, regulatory approvals and other customary closing conditions.

@CanBizJournal

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