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Randgold shareholders okay Barrick merger

In a development that surprised no one, the majority of Randgold Resources (LSE:RRS) shareholders have given the go-ahead for the proposed US$6.1 billion proposed share-for-share merger with Barrick Gold (NYSE:ABX).
Randgold shareholders okay Barrick merger Randgold shareholders okay Barrick merger Randgold shareholders okay Barrick merger Randgold shareholders okay Barrick merger Randgold shareholders okay Barrick merger

Randgold Resources shareholders have given the merger with Barrick Gold the thumbs up

Staff reporter

In record voting levels, 95% of Randgold shareholders voted in favour of the share-for-share scheme of arrangement and its implementation at a Jersey court meeting and an extraordinary general meeting Wednesday, exceeding the required 75%.

Barrick shareholders had okayed the deal earlier in the week and the South African Competition Tribunal cleared the merger last week.

Last week, Randgold announced it would up its 2018 dividend by 34.5% and Barrick would give 40% more to shareholders.

Randgold said the deal was still subject to the Jersey Court's sanction of the scheme at the Jersey Court hearing to be held on December 17, with the scheme expected to become effective on January 1, 2019.

The company said it planned to suspend its shares on December 31 and if the scheme was sanctioned by the Jersey Court, Randgold would apply to cancel the admission to trading of Randgold shares on the London Stock Exchange's main market from January 2.

Randgold shares were down 0.38% Thursday to £62.36 (US$81.78) per share.

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