Posted AT 4:49 PM EDT on 22/12/05
Barrick to buy Placer
Barrick Gold Corp. agreed to buy rival Placer Dome Inc. for a sweetened $10.4-billion (U.S.) Thursday, creating the world's largest gold producer.
Under the new offer, Place Dome shareholders could receive either $22.50 in cash or 0.8269 Barrick shares plus 5 cents in cash for each Placer share. The two companies have agreed to extend Barrick's offer until Jan. 19.
On Oct. 31, Toronto-based Barrick made a hostile bid to buy its Vancouver-based rival for $9.
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