Newmont Holder Vote on Goldcorp Deal Clears Way for Special Dividend
April 11 2019 - 10:52AM
Dow Jones News
By Colin Kellaher
Newmont Mining Corp. (NEM) on Thursday said its shareholders
approved the authorization and issuance of common shares needed for
its $10 billion takeover of Goldcorp Inc. (GG, G.T), paving the way
for Newmont to pay the special dividend it offered to placate
investors who were unhappy with the deal.
Newmont said the vote, coupled with last week's approval of the
deal by Goldcorp's shareholders, satisfied the conditions of the
88-cent dividend, which it will pay on May 1.
Newmont proposed the payout last month after two large
shareholders said the Goldcorp deal transferred away significant
gains from a Nevada joint venture between Newmont and Barrick Gold
Corp. (ABX.T).
Denver-based Newmont said it expects to complete the Goldcorp
transaction during the second quarter.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
April 11, 2019 11:37 ET (15:37 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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