|
|
Article: Battle Mountain Gold and Newmont Mining Agree to Merger.
- Article from:
- Business Wire
- Article date:
- June 21, 2000
CopyrightCOPYRIGHT 2000 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Business Editors
HOUSTON--(BUSINESS WIRE)--June 21, 2000
Battle Mountain Gold Co. (NYSE:BMG) (TSE:BMC) and Newmont Mining Corp. have entered into a merger transaction under which Battle Mountain Gold will become a wholly owned subsidiary of Newmont Mining.
Each of Battle Mountain Gold's 230 million shares of common stock and exchangeable shares will be exchanged for 0.105 shares of Newmont common stock. The transaction will be accounted for as a pooling of interests.
The combination will consolidate the two companies' strategic land positions in Nevada and generate companywide sustainable cash savings of approximately $30 million a ...