After promising to sweeten the pot with the largest dividend in 32 years, Newmont has won over two of its biggest investors to the merits of a $10B merger with Goldcorp.
Paulson & Co Mining News
Paulson's campaign could have implications across the sector, where activism is historically low, returns have been disappointing, compensation is above-average and insider ownership is below-average.
For substantive change to take hold at the company, long-term directors who have presided over value destruction and overseen technical failures of prior mine plans need to be replaced.
New York-based Paulson & Co maintained its stake as spot gold prices declined more than 5%
Silver also gained 5%.