Santa Fe Pacific Gold's Board of Directors Signs Merger Agreement With Newmont; Newmont Increases Exchange Ratio to 0.43

PR Newswire | March 10, 1997 | Copyright

ALBUQUERQUE, N.M., March 10 /PRNewswire/ -- SANTA FE PACIFIC GOLD CORPORATION'S (NYSE: GLD) Board of Directors today announced the approval and signing of a merger agreement with NEWMONT MINING CORPORATION (NYSE: NEM) and the termination of the merger agreement with HOMESTAKE MINING COMPANY (NYSE: HM).

The Newmont agreement provides for an exchange ratio of 0.43 of a share of Newmont common stock for each outstanding share of Santa Fe Pacific Gold common stock, which represents a material increase from Newmont's most recently proposed exchange ratio of 0.40 ...

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