Market Chatter: Barrick Chairman's Plan to Spin Off North American Mines in IPO Facing Some Investor Backlash

MT Newswires Live17:05

Barrick Mining (B) Chairman John Thornton's plan to spin off the company's North American mines in an IPO is facing opposition from its major shareholders, Bloomberg News reported Sunday.

Portfolio managers at Van Eck Associates and Mackenzie Financial have contacted the mining giant in recent months to express opposition to the plan, as it lacks clarity and would partially sell off Barrick's best assets, the news outlet reported, adding that Franklin Equity Group is also opposed.

The possible IPO will likely be of concern to shareholders when Barrick reports its latest financial results Monday, Bloomberg reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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