Barrick strikes deal for Equinox, tops Minmetals

Reuters

NEW YORK (Reuters) - Barrick Gold Corp said on Monday that it had struck a deal to buy Australia's Equinox for more than C$7 billion, topping a proposed takeover offer by China's Minmetals Resources <1208.HK>.

Barrick said Equinox had agreed to be acquired for C$8.15 a share, an 8.7 percent premium over the company's Thursday closing price.

Continue Reading Below

Barrick said Equinox would also withdraw its bid for fellow copper miner Lundin Mining as part of the deal.

(Reporting by Michael Erman; Editing by Lisa Von Ahn)