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.”
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.