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Company News

BUZZ-Newmont Mining: Rises on Barrick Gold's $18 bln buyout deal

** Newmont Mining’s shares up 1.4 pct at $37.00 premarket vs implied offer price of $33.50

** NEM set to post its 6th straight session of gains

** Canadian miner Barrick Gold Corp offers to buy U.S. rival in $18 bln all-stock deal that would create a global gold mining giant

** NEM’s shareholders will get 2.5694 common shares of Barrick for each outstanding Newmont Share; NEM’s last close was $36.48

** U.S.-listed shares of Barrick Gold fell 0.5 pct

** Current avg rating on NEM is “buy”; Median PT $41

** On Friday, NEM’s shares rose 3 pct after Barrick said it was considering making an all-stock bid for the company

** However, proposed transaction is conditioned on termination of GoldCorp’s arrangement agreement; NEM said last month it would buy smaller rival for $10 bln ** NEM has risen 5 pct this year (Reporting by Amy Caren Daniel in Bengaluru)

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