Inside Newmont’s Goldcorp Buyout [VIDEO]

gold bars, gold money
Written by Mike Hammer

Recently, Newmont (NYSE:NEM) announced they were buying Goldcorp (NYSE:GG) in a deal valued at $10 Billion (with a B, if you need help with the alphabet). Market watchers immediately noted this would make the resulting company the largest gold miner in the world. Which could make you wonder 2 things: Number 1, how could such a deal get past anti-monopoly laws; and Number 2, how does Newmont plan to make this workout? We are talking a LOT of money here, more than you can just stash away from your weekly allowance and pay off in one fell swoop.

Newmont’s CEO Gary Goldberg (yes, we’re not making that up) talked about the why’s and how’s of the deal in an interview segment with Andrew Cosgrove and Alix Steel on Bloomberg Financial this week.  The important pieces are all in today’s featured interview.  (Note: Yahoo recently increased the obnoxiousness of their I-accept-cookies notices to comply with European laws.  So if you get a huge obnoxious window saying Yahoo is going to use your data, all they’re talking about is tracking your site visits to Yahoo.  Otherwise, your friendly Gold Enthusiast would not point you toward their site.)

Continue reading at Yahoo! Finance

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as continuing themes. Mike graduated with a business degree and spent years as a financial advisor, before moving to New York and to pursue a career in IT and education. For more than a decade Mike has been working with the Adam Mesh Trading Group as a stock market and commodities mentor. He’s trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to educational webinars.

Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keeps him in touch with "the student mindset".

Mike focuses on the precious metals markets, the energy industry, and the financial sector. His motto is "Plan your trade, then trade your plan!"

Leave a Comment