Here’s Why the Barrick–Randgold Deal Is Unique
In the week following the announcement, Randgold rose 10.4% and Barrick was up 5.8%, while the NYSE Arca Gold Miners Index was down 1.3%. The Barrick–Randgold merger was unique in that Barrick Gold didn’t pay a huge premium for Randgold. The two companies announced that Barrick Gold would be taking over the latter for $6.0 billion, which represented a negligible premium over Randgold’s stock price.