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Gold miners' merger to create €14bn giant

Two of the world's largest gold miners have announced plans to merge in a deal that will create a global leader with a market value of ?14bn.
Under the all-share agreement, Barrick Gold of Canada would hold two-thirds of the new company which would also keep the Barrick name.
Randgold Resources' shareholders would hold the rest of the stock.Each Randgold investor would receive, the pair said, 6.1280 new Barrick shares for every Randgold share.However, they also announced the new company's shares would be traded in New York and Toronto, meaning Randgold's London listing on the FTSE 100 would be cancelled if the deal went ahead, as planned, early next year.Barrick executive chairman John L Thornton, who will retain the role, said: "The combination of Barrick and Randgold will create a new champion for value creation in the gold mining industry."
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