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Gold/Mining/Energy : Barrick Gold (ABX)
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To: The Fix who wrote (875)12/10/1998 1:22:00 AM
From: Zardoz  Read Replies (2) of 3558
 
"Barrick had been willing to pay more per share to gain the board's support, said Vincent Borg, company spokesman. When Argentina Gold's directors balked, ''we opted to go directly to shareholders'' with a lower offer, he said.

Argentina Gold said Barrick's first offer was C$5.50 a share. "

Just a second here... isn't this sort of offer illegal on a takeover? You can't offer one group one price, and the others a lower price. And since they lower offered one group, they can't withdraw the offer without notification.
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