PDG - Placer Dome

[The Barbarian Investor]

"flipping" through the paper today and noticed that Placer Dome jumped yesterday by about 58c..any idea why?

 

[wayneL]

Re: Placer Dome? (PDG)

Barrick Gold has made a bid for them in the US

 

[RichKid]

Re: Placer Dome? (PDG)

Barrick Gold has made a bid for them in the US

This won't be the last gold takeover in this resources cycle either. Good to keep an eye on these takeovers to see what the market dynamics are, commentators will be going through all the info soon.

 

[wayneL]

Re: Placer Dome? (PDG)

http://www.marketwatch.com/news/yho...o&guid={26C1DD53-E3B1-4600-A213-63FE7CB1CFC4}

Barrick offers $9.2 bln for Placer Dome
Suitor in hostile bid strikes side deal with Goldcorp
By MarketWatch
Last Update: 4:29 PM ET Oct. 31, 2005

NEW YORK (MarketWatch) -- Barrick Gold said Monday it would offer $9.2 billion to acquire Placer Dome, a merger that would make the combined company one of the largest global players in the gold-mining industry.

If the hostile bid goes through, Barrick Gold would then sell some Placer Dome mines and exploration joint ventures to Goldcorp for about $1.35 billion.

The deal would also rearrange the list of top gold producers in a sector that has seen several recent deals as prices for the precious metal have steadily risen.

 

[doctorj]

Re: Placer Dome? (PDG)

This won't be the last gold takeover in this resources cycle either. Good to keep an eye on these takeovers to see what the market dynamics are, commentators will be going through all the info soon.

I've heard a rumour that Newcrest might be a target given their depressed share price as a result of the fun they're having at Telfer.

 

[RichKid]

Re: Placer Dome? (PDG)

I've heard a rumour that Newcrest might be a target given their depressed share price as a result of the fun they're having at Telfer.

Yep, that's the one I'm watching, in fact they've been talking about NCM for awhile now. Too expensive atm imo but as gold is going 500+ anything can happen. There are some tactical issues and timing problems- the current co bears all the downside atm, if the takeover occurs just as the problems are over it'll be great for the predator- that's my theory anyhow. Apparently the corporate/finance side of it is now much simpler than a year or two ago making it easier to 'digest' for a predator.

 

[The Barbarian Investor]

Re: Placer Dome? (PDG)

Thanks for that, is Newcrest also Newmont?

One of the guys at work who holds a fewIncome based shares mostly has been thinking about getting on board with PDG..buthe may have misedthe boat then (heonly brought it up yesterday)

TBI

 

[Profitseeker]

Re: Placer Dome? (PDG)

NCM will only be preyed on once it sorts Telfer out.