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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (41216)	2/23/2018 7:38:26 AM
From: Goose94	Read Replies (1) \| Respond to of 203330

Barrick (ABX-T) hurtin' unit... Is not planning any major mergers or acquisitions deals. "When times are good, companies overpay for mediocre assets and invest in projects with low returns. At Barrick, this will not happen. We are putting in place the discipline to make certain this is the case." Mr. Thornton said that Barrick had examined a number of external M&A opportunities last year, but passed. Barrick is attempting to make up for a significant M&A misstep from the past. In 2011, it paid $7.3-billion (U.S.) in cash to buy Equinox Minerals. The acquisition proved to be a financial disaster. Less than two years later, Barrick wrote down the value of the assets by $3.8-billion (U.S.). Chief investment officer Mark Hill will be applying extra scrutiny to any potential M&A transactions. Chief financial officer Catherine Raw said, "The first thing is not to assume we can solve our problems through M&A." Ms. Raw added that Barrick's focus will instead be on its existing portfolio of assets. Barring major acquisitions, however, Barrick's long-term production is declining.