Lexpert Magazine

July 2019

Lexpert magazine features articles and columns on developments in legal practice management, deals and lawsuits of interest in Canada, the law and business issues of interest to legal professionals and businesses that purchase legal services.

Issue link: http://digital.carswellmedia.com/i/1148218

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Page 11 of 24

12 LEXPERT MAGAZINE | JULY 2019 Newmont's $10-billion friendly offer for Goldcorp was shaken when Barrick suddenly made a hostile bid for the acquirer BY SANDRA RUBIN largest gold miner. In September Toronto-based Barrick made a move to widen the gap; a US$6.5-billion merger with Afri- can miner Randgold Resources Ltd. "at galvanized the gold mining industry into 'Oh my gosh, we have to have a look at consolidation,'" says Ripley. "Most of the senior miners started looking for dance partners." Vancouver-based Goldcorp, which had been strug- gling, needed to act to keep from becoming prey. It was in talks with an unnamed company about what Ripley calls "a merger of equals, something very different from the Newmont transaction." (Rumours on the Street were the other company was Newcrest Mining.) T he world of the top global gold producers is like a jungle. ere are predators and prey, and alliances made to keep preda- tors from becoming prey. "It's very primal," says Charlene Ripley, who was executive vice president and general counsel of the former Goldcorp Inc., which found itself caught between the two top predators earlier this year. Giants Newmont Mining Corp.and Bar- rick Gold Corp. regularly run neck- and-neck for the title of the world's 'the Alligator Then Emerged' PHOTO: SHUTTERSTOCK

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