Barrick, the world's biggest gold miner, calls off $18 billion offer for rival Newmont after the two agree to a Nevada joint venture
Barrick Gold Corp., the world’s biggest gold miner, called off its nearly $18 billion acquisition offer for rival Newmont Mining Corp. after the two companies agreed to form a joint venture combining their Nevada operations.
Barrick offered last month to acquire the rival gold miner in an all-stock stock deal for $17.85 billion. Last week, Newmont rejected the offer, but proposed a joint venture. Barrick’s biggest stockholder—VanEck International Investors Gold Fund—said it preferred a joint venture.
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