Shares outstanding2 Dec 2018 22:13
“Acquirer – Barrick Gold; Target Company – Equinox Minerals ($7.65bn)
Barrick Gold, a leading mineral exploration company through its wholly owned subsidiary Barrick Canada, completed the acquisition of Equinox Minerals in July 2011, for $7.65bn.
Following the acquisition, Barrick and its affiliates now collectively own 8.79 billion Equinox shares, representing 100% of the outstanding shares on a fully diluted basis. Barrick funded the acquisition through its existing cash balances and $6.5bn in new debt. The deal contributed to the $13bn debt burden of Barrick.”
1bn more shares outstanding than Kod didn’t stop barrick paying nearly $8bn for equinox. Now i’m not saying that kod is worth $8bn, but worrying about the number of shares in issue is a red herring...