The proposed merger between Newmont Mining (NYSE:NEM) and Goldcorp (NYSE:GG) is endorsed by Glass Lewis, which becomes the second proxy advisory firm to recommend shareholders approve the deal after ISS came out in support earlier this week.
“We see no reason to doubt the strategic rationale for the proposed transaction, which would create a leading gold company with greater asset diversification and opportunities to achieve meaningful synergies,” Glass Lewis says.
Earlier this week, ISS cited “the solid strategic rationale and expected financial benefits, which are bolstered by the recent addition of a special dividend to NEM shareholders,” for its recommendation.
Separately, NEM announced its leadership team for the combined company, with CEO Gary Goldberg remaining at the helm until Q4 when he will retire, to be succeeded by Tom Palmer, who will stay in the role of President.
Source: M A News on Seeking Alpha