First Quantum rebuffed Barrick Gold informal takeover approach - Bloomberg

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First Quantum rebuffed Barrick Gold informal takeover approach - Bloomberg
Credit: © Reuters.

According to a report from Bloomberg on Thursday, Barrick Gold (NYSE: GOLD ), the world's second-largest producer of precious metals, made an informal attempt to take over First Quantum Minerals (OTC: FQVLF ), but their offer was rejected.

According to Bloomberg's sources, Barrick is said to have reached out to First Quantum in recent months as they look to grow their copper business.

However, First Quantum declined to enter into any serious talks, indicating it wasn't keen on a deal.

Barrick shares are down more than 1% Thursday, while First Quantum, which is listed in Toronto, jumped over 9%.

Bloomberg sources said the two companies aren't currently in formal discussions, and it is unclear whether Barrick will revive its interest in the company.

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