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StumbleNewmont may be merger victor
Friday, Jan. 4, 2002 | 11:22 a.m.
TORONTO -- Newmont Mining of Denver appears set to win the contest to take over Normandy Mining of Australia with an improved bid of $2.2 billion. The deal would make Newmont the world's biggest gold producer.
AngloGold of South Africa, which had been vying with Newmont for Normandy, bowed out of the bidding Thursday after Newmont sweetened its bid.
A small chance remains that shifts in stock prices will close the gap between the two bids and make AngloGold's last offer competitive again.
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