Gold mining company Placer Dome Inc. on Wednesday said its board is recommending shareholders reject a $9.2 billion takeover bid by Barrick Gold Corp., calling the offer “inadequate” and “opportunistic.”
Toronto-based Barrick had offered last month to buy Placer Dome for cash and stock in a deal that would create the world’s largest gold producer. At the time, a Barrick spokesman called the bid a “friendly unsolicited offer.”
