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By Colin Kellaher
Newmont Mining Corp. (NEM) on Thursday said its shareholders approved the authorization and issuance of common shares needed for its $10 billion takeover of Goldcorp Inc. (GG, G.T), paving the way for Newmont to pay the special dividend it offered to placate investors who were unhappy with the deal.
Newmont said the vote, coupled with last week's approval of the deal by Goldcorp's shareholders, satisfied the conditions of the 88-cent dividend, which it will pay on May 1.
Newmont proposed the payout last month after two large shareholders said the Goldcorp deal transferred away significant gains from a Nevada joint venture between Newmont and Barrick Gold Corp. (ABX.T).
Denver-based Newmont said it expects to complete the Goldcorp transaction during the second quarter.
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(END) Dow Jones Newswires
April 11, 2019 11:37 ET (15:37 GMT)
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