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Nov 5, 2018

Barrick shareholders vote overwhelmingly in favour of Randgold takeover

Barrick Gold Corp Chairman Thornton speaks during their annual general meeting for shareholders in Toronto

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TORONTO - Barrick Gold Corp. says shareholders have voted more than 99 per cent in favour of a takeover of Randgold Resources Ltd.

The proposed combination of the two companies, announced in September, would add gold mine properties in Mali, Senegal, Ivory Coast, and the Democratic Republic of Congo to Barrick's portfolio.

The deal would also see Randgold chief executive officer Mark Bristow move to the same role at Barrick.

Randgold shareholders are set to vote on the merger Wednesday.

Last week, Barrick sweetened its offer to Randgold shareholders by boosting the dividend offer for 2018 to $2.69 per Randgold share from the $2 initially proposed.

The all-share takeover, which valued Randgold at about $7.9-billion when announced, would restore Barrick's status as the world's largest gold miner.