(Bloomberg) -- Barrick Gold Corp., the world's biggest producer, is in late-stage talks to merge with African rival Randgold Resources Ltd., according to a blog specializing in mining news.
An announcement may come as early as Sunday or before the opening bell Monday, incakolanews.blogspot.com said in a post Saturday, adding, “multiple sources have told the desk the deal is on.”
Barrick, based in Toronto, has a market value of $12.2 billion, roughly twice that of Randgold, which is based in the Channel Islands.
Andy Lloyd, a spokesman for Barrick, declined to comment.
To contact the reporter on this story: Natalie Wong in Toronto at nwong133@bloomberg.net
To contact the editors responsible for this story: Debarati Roy at droy5@bloomberg.net, Bernard Kohn, Kevin Miller
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