UPDATE 1-Placer Dome rejects Barrick bid, mulls options
Posted on Wednesday, November 23 @ W. Europe Standard Time |
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Placer Dome Inc. (PDG.TO: Quote, Profile, Research) said on Wednesday its board of directors has rejected an unsolicited takeover offer from Barrick Gold Corp. (ABX.TO: Quote, Profile, Research) and it is in talks with others about alternatives...
Placer Dome Inc. (PDG.TO: Quote, Profile, Research) said on Wednesday its board of directors has rejected an unsolicited takeover offer from Barrick Gold Corp. (ABX.TO: Quote, Profile, Research) and it is in talks with others about alternatives. Placer said the $9.2 billion Barrick offer was financially inadequate and opportunistic and fails to recognize the value of Placer Dome's assets and long-term growth potential. Placer Dome, which said it outlined its reasons in a directors' circular filed on Wednesday, added that it is in talks with a number of third parties on finding alternative transactions. Some of those parties have been examining Placer Dome's confidential information, it said.
Read more at Reuters
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