Barrick Gold Corp. is mulling a takeover bid for Newmont Mining Corp., a transaction that would represent one of the largest mining deals ever and solidify the Toronto-based company’s position as the world's largest gold producer.
Barrick is working on a plan for a two-step deal that would see it take over Colorado-based Newmont for about US$19 billion in stock, then flip some of Newmont's assets to Australia's Newcrest Mining, according to industry sources familiar with the situation.
Under the potential terms of the deal, Barrick would keep Newmont’s Nevada and African mines, while Newcrest would take over its Australian operations, which are worth billions. ...
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