viewRandgold Resources Limited

Randgold Resources to delist after court approves Barrick merger

The merger will create the world's largest gold miner, valued at US$18.3bn

The combined group will begin trading on the NYSE and TSX on January 2

Randgold Resources Ltd (LON:RRS) will delist from the London Stock Exchange and NASDAQ at the end of the year after its planned merger with Canada’s Barrick Gold Corp (NYSE:ABX) received court approval.

Randgold said the Royal Court of Jersey sanctioned a scheme of arrangement, which will give effect to the merger.

Mark Bristow, chief executive of Randgold and designated president and chief executive of Barrick, said the court's approval was the last major milestone towards completing the deal.  

"Barrick will be the world's biggest gold miner but our focus will be on making it the industry's most valued company,” he said.

“By finding, developing and operating the best assets, with the best people, we'll deliver sustainable returns to our owners and partners.”

READ: Randgold Resources and Barrick Gold confirm plans for US$18.3bn merger

On December 31, Randgold will be delisted and the combined group will begin trading on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX) on January 2 under the Barrick name.

Barrick Gold announced its plans to buy Randgold in an all-share deal in September to create a company worth US$18.3bn.

Under the terms of the deal, Randgold shareholders will receive 6.1280 new Barrick Gold shares for each of their shares.

The merged company will be called New Barrick Group with Barrick Gold holding a 66.5% stake and Randgold owning the rest of the shares.

Shareholders voted in favour of the deal in November.  

In afternoon trading, shares in Randgold fell 3.5% to 6,698p. 

Quick facts: Randgold Resources Limited

Price: - -

Market: LSE
Market Cap: -

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


Bango reports record revenue growth in the first half of 2020

Bango PLC's (LON:BGO) Paul Larbey talks to Proactive's Katie Pilbeam `about their latest record revenue growth in the first half of this year. Larbey is confident Bango is positioned to continue delivering growth after reporting revenues of £4.77mln, up 50% year-on-year. He goes on to...

2 days, 11 hours ago

2 min read