Update on China’s bid for Equinox Minerals Ltd

Finally, somebody in Canada reacted to the attempt by a foreign group to take control of the canadian company Equinox Minerals Ltd. Canadian company Barrick Gold Corp made a bid of $7.3 billion dollars to acquire Equinox Minerals. 15 hours after the offer, China Minmetals Resources Ltd announced that it was pulling out of the bidding process. By making this acquisition, Barrick Gold broadens its field of interest to include copper in its portfolio. I like it, globally. Not knowing what the Chinese were up to with that bid, I prefer for the moment that the control of the company stays here. It is in the culture of the  business community now to always aim at getting bigger and bigger and to swallow smaller companies, I know. Maybe in 100 years there will be only 5 companies left on the whole surface of the Earth. That’s the goal of the Third Reich anyway, to be able to control the world with a few number of companies. But for today, I think it is a good news for Canada that we could keep Equinox here. Check on the earlier post and read the articles below.

Barrick’s bid

China’s withdrawal

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