Mining Giant Barrick Gold Makes Unsolicited Bid for Rival Newmont

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Mining Giant Barrick Gold Makes Unsolicited Bid for Rival Newmont

Barrick Gold Corp. offered $17.85 billion for Newmont Mining Corp., proposing an unsolicited, all-share deal that would combine the world’s biggest Gold miners and create an industry Giant that Barrick said will be better able to squeeze out costs.

Gary Goldberg, Newmont’s chief executive, said his company would focus on completing its own big deal, a $10 billion proposed acquisition of Canadian miner Goldcorp Inc. Barrick, based in Toronto, didn’t offer a premium to Newmont’s share price.

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