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Barrick Has ‘No Cause’ for Concern on Equinox Takeover Talks
May. 30, 2011 12:25PM PST
Precious MetalsBloomberg reported that Zambia’s mines minister said Barrick Gold (NYSE:ABX) should not be concerned about the conditions of its takeover bid for Equinox (TSE:EQN).
Bloomberg reported that Zambia’s mines minister said Barrick Gold (NYSE:ABX) should not be concerned about the conditions of its takeover bid for Equinox (TSX:EQN).
The market news is quoted as saying:
Barrick, the world’s largest gold producer, plans to take over the Lumwana copper mine as part of a C$7.3 billion ($7.5 billion) buyout of the Perth, Australia-based company. Equinox’s shares fell as much as 6.1 percent on May 27 after Barrick, based in Toronto, said in a statement it’s in talks with the regulator to modify the terms of Zambia’s conditional approval of the transaction.
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