M&A

Randgold/Barrick merger passes "final milestone"

Randgold shares to disappear from London at the end of December

Staff reporter

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The decision on Monday means Randgold will quit the London Stock Exchange at the end of 2018. 

When markets open again, on January 2, 'New Barrick' will trade as GOLD in New York and continue as ABX in Toronto. 

Randgold is headquartered on the low-taxing Channel Island. 

Incoming New Barrick CEO Mark Bristow said his focus would be on "making it the industry's most valued company". 

The merger will likely open up various Barrick and Randgold assets to the mid-tier miners as the new company focuses on major money-spinners. 

The combination has not been totally problem-free, as the Acacia Mining fight with the government of Tanzania continues. 

Barrick looked close to breaking the deadlock over alleged corruption and tax-avoidence at the 63%-owned miner but the past week has seen uncertainty over a deal being reached before the merger.

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