Following several successful royalty acquisitions, Franco-Nevada sold its only mining property to Normandy Mining in exchange for a fifth of the company, making it a target for takeover as rival companies Newmont Mining Corporation and Anglo Gold were building their gold mining portfolios.
Following several successful royalty acquisitions, Franco-Nevada sold its only mining property to Normandy Mining in exchange for a fifth of the company's shares. This made Franco-Nevada into a target for takeover as rival companies Newmont Mining Corporation and Anglo Gold were building their gold mining portfolios.