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Barrick Gold to buy Randgold Resources in $18.3 billion deal
By Zandi Shabalala, Justin George Varghese, and Clara Denina
Monday, September 24, 2018
LONDON -- Canada's Barrick Gold has agreed to buy Randgold Resources Ltd in a $18.3 billion share deal to create the world's largest gold company by value and output in an industry under investor pressure to put capital to good use.
The new Barrick company, which will be listed in New York and Toronto, will own five of the world's 10 lowest-cost gold mines and will be valued at $24 billion including debt.
The deal marks the biggest transaction in years in the gold-mining industry, where companies have come under fire from investors for poorly managing capital, forcing them to focus on costs while dampening enthusiasm for acquisitions. ...
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