Barrick Gold may bid for Newmont -- BusinessWeek
Thu Mar 15, 2007 6:16pm ET
Barrick Gold may bid for Newmont -- BusinessWeek
NEW YORK, March 15 (Reuters) - Canada's Barrick Gold Corp. (ABX.TO: Quote, Profile , Research), the world's biggest gold miner, may bid for No. 2 Newmont Mining Corp. (NEM.N: Quote, Profile , Research), BusinessWeek reported in its March 26 edition.
Citing "some pros," the magazine said Barrick would go after Newmont for its proven and probable reserves of about 95 million ounces of gold.
A deal would likely value Newmont in the "mid 50s," BusinessWeek said, citing pros.
Newmont closed on Thursday at $42.14, up 70 cents, on the New York Stock Exchange, while Barrick closed at C$33.03, up 63 cents, in Toronto. (Reporting by Nick Zieminski; editing by Andre Grenon; nick.zieminski@reuters.com; Reuters Messaging: nick.zieminski.reuters.com@reuters.net; +1 646 223 6162))
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