Deals
Barrick to Buy Equinox for C$7.32 Billion, Topping Minmetals Bid
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Barrick Gold Corp., the world’s biggest gold company, agreed to buy copper producer Equinox Minerals Ltd. for C$7.32 billion ($7.66 billion) in cash, topping a hostile offer from China’s Minmetals Resources Ltd.
Investors in Equinox will get C$8.15 for each share, Toronto-based Barrick said in a statement. The offer is 17 percent more than Perth, Australia-based Equinox’s average share price over the past 20 days of trading. Equinox agreed to drop its bid for Canadian copper and zinc producer Lundin Mining Corp.