Barrick acquisition of Placer Dome will make it No1
23 Dec '05
1 min read
Toronto, Canada based Barrick Gold Corporation has entered in an agreement to acquire Placer Dome making it the world's largest gold mining company.
In a press release the Barrick said it will have the strength, breadth and scale to more effectively deal with industry issues with the said agreement in place.
It said that the company anticipated transaction synergies of approximately $200 million per year.
Earlier, Barrick had announced revised share and cash offer for Placer Dome Inc. at value of US$10.4 billion which was formally aspproved by Placer Dome's Board of Directors unanimously.
Barrick has committed to build the world's best gold mining company and strengthen its competitive advantage in delivering value from their combined assets.
marketing@alchempro.com
