Barrick fails in attempt to acquire NovaGold with $1.7-billion offer

Dec 08, 2006 | 10:12 AM | Matthew Lerner

Barrick Gold Corp., Toronto, has failed in its $1.7-billion bid to take over NovaGold Resources Inc., Vancouver, British Columbia, after acquiring only 14.8 percent of the company.

The company had raised its offer to $16 per share from $14.50, extended it six times and dropped its minimum tender condition before ultimately failing to buy NovaGold, although its stake does make it NovaGold's largest shareholder.....

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