Barrick Gold plans to proceed with a formal takeover offer for Newmont Mining, undeterred by a rebuff from the target company. Newmont’s board unanimously rejected Barrick’s $17.8-billion unsolicited proposal, saying it would not be better than Newmont’s previously announced takeover of Goldcorp. Instead, Newmont submitted a joint venture proposal to Barrick that would encompass the two companies’ Nevada operations, saying it would pursue that as well as its Goldcorp takeover.
