February 25, 2019 / 4:14 PM / 9 months ago

Barrick CEO says Newmont bid 'logical' deal for shareholders

HOLLYWOOD, Fla, Feb 25 (Reuters) - Barrick Gold Corp Chief Executive Officer Mark Bristow said on Monday that his company’s $18 billion hostile bid for rival Newmont Mining Corp is a “logical” tie-up that would generate value for shareholders of both companies.

“This gold industry needs to become more relevant to investors,” Bristow said in an interview on the sidelines of the BMO Global Metals & Mining Conference in Florida. “This deal drives a further rationalization in our industry.” (Reporting by Ernest Scheyder; Editing by Jeffrey Benkoe)

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