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Company News

BUZZ-Newmont, Goldcorp: Gains on promise of special div, ISS backing for deal

** Newmont Mining shares up 1.8 pct, rising for a 5th straight day to hit a one-month high of $35.28 and moving back into the black for the year

** Goldcorp U.S.-shares up 3.4 pct and nearly erasing Friday’s 3.2 pct slide; NEM and GG shares among the 10 most actively traded across U.S. markets

** Newmont says yes to a special div if shareholders approve its $10 bln takeover of Goldcorp, which supports the payment

* Goldcorp also said proxy advisory firm ISS recommends shareholders support the offer

** Newmont said the cash payment would represent a part of savings from separate agreement with Barrick Gold

** Top NEM holders, including Paulson & Co and Van Eck International, have said the proposal give Goldcorp shareholders too much of $4.7 bln in synergies from Barrick venture

** YTD, GG is up ~14 pct, while NEM is up 1.4 pct; the Dow Jones U.S. basic materials sector index is up 7.6 pct (Reporting by Savio D’Souza)

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