World Business Briefing: Canada: Barrick Gives Up Novagold Takeover Bid
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The Barrick Gold Corporation has conceded defeat in its attempt to take over NovaGold Resources, saying that only about 14.8 percent of NovaGold shares had been deposited in its $1.7 billion hostile bid. Barrick, the worldÂs biggest gold producer, raised its cash offer once, to $16 a share, and extended it six times. But NovaGold fought back, spurning the bid as being too low.
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Teck Cominco, a mining company and metals producer, has agreed to buy Aur Resources for 4.1 billion Canadian dollars ($3.9 billion) in cash and stock.
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WELLINGTON (Dow Jones)--NGC Holdings Ltd. (NGC.NZ), a New Zealand gas distribution and metering concern, Thursday said it will end ongoing merger discussions with fellow energy companies following a decision
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TORONTO (CP) - Eugene Melnyk, who used his personal fortune to buy the Ottawa Senators last year, stepped aside Thursday as chief executive of Biovail Corp.
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TORONTO (CP) - Goldcorp Inc. has decided to let its shareholders vote on a merger with Vancouver&#39;s Wheaton River Minerals while a hostile takeover offer for Goldcorp from another gold miner looms.
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Australian nickel and copper miner WMC Resources has turned down an offer from Swiss-based Xstrata that valued the company at Aust.
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ElkCorp said that it planned to accept a bid for the company from Building Materials Corporation of America and terminate a planned sale to the private equity firm Carlyle Group.
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TORONTO (CP) - LionOre Mining International Ltd., a global company listed on the Toronto Stock Exchange, has made a $208 million US friendly bid to acquire Australia&#39;s MPI Mines Ltd.
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Gold miner Goldcorp Inc. on Friday said its board is willing to review and evaluate a takeover offer from Glamis Gold Ltd. that would break up its friendly merger agreement with Wheaton River Minerals Ltd.
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TORONTO -- One of Canada&#39;s largest and best-known miners, Noranda Inc., is in exclusive talks to be acquired by a Chinese metals producer, the two companies confirmed Friday.
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Noranda Inc., Canada&#39;s biggest mining company, began exclusive talks on a takeover proposal from China Minmetals Corp. that would lead to the spinoff of Noranda&#39;s aluminum business to shareholders.
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Business & money: Â· Alcoa bows out of contest in face of $38bn offer Â· Bid battle helps push Dow Jones to record close
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Canada's biggest mining company, Noranda Inc., has ended exclusive talks with China Minmetals Corp., but the Chinese metals trader said Thursday it will persist with its acquisition bid.
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BCE Inc , Canada's largest telecommunications group, on Saturday accepted a C$51.7 billion ($48.5 billion) offer from a group including the Ontario Teachers Pension Plan, and said it would be the largest buyout in Canadian corporate history.
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LionOre Mining International, the nickel producer, said that the takeover offer of $6.8 billion Canadian dollars ($6.3 billion) from Norilsk Nickel of Russia was superior to a rival offer by Xstrata of Switzerland. Xstrataâs most recent bid was for $6.2 billion Canadian dollars. Both companies have now made two offers for LionOre. Under the terms of an agreement signed with LionOre, Xstrata has until June 1 to match Norilskâs offer.
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Sport: Football: Club pulls the plug on potential takeover deal with Hong Kong businessman
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Canada&#39;s LionOre Mining International Ltd. (LIM.T) has bid an agreed A$285 million takeover to acquire Australia&#39;s MPI Mines Ltd.