Recently, Newmont (NYSE:NEM) announced they were buying Goldcorp (NYSE:GG) in a deal valued at $10 Billion (with a B, if you need help with the alphabet). Market watchers immediately noted this would make the resulting company the largest gold miner in the world.
Which could make you wonder 2 things: Number 1, how could such a deal get past anti-monopoly laws; and Number 2, how does Newmont plan to make this workout? We are talking a LOT of money here, more than you can just stash away from your weekly allowance and pay off in one fell swoop.
Newmont’s CEO Gary Goldberg (yes, we’re not making that up) talked about the why’s and how’s of the deal in an interview segment with Andrew Cosgrove and Alix Steel on Bloomberg Financial this week. The important pieces are all in today’s featured interview. (Note: Yahoo recently increased the obnoxiousness of their I-accept-cookies notices to comply with European laws.