Barrick Acquires Pangea

On July 28, 2000, Barrick Gold Corporation (Barrick) announced that its friendly take-over bid for Pangea Goldfields Inc. had been successful and over 90 per cent of the shares had been taken up under the takeover offer. Barrick had made a cash offer of $7.00 per Pangea share, valuing the deal at approximately $210 million. The bid will be completed by the end of July 2000.

Macleod Dixon acted for Pangea with a team of lawyers led by Albert Gourley and Frank Herbert. Davies, Ward & Beck acted for Barrick with a team of lawyers led by Kevin Thomson. Jay Kellerman of Stikeman Elliott acted for BMO Nesbitt Burns Inc. in their capacity as financial advisor to Pangea.


Jay C. Kellerman Kevin J. Thomson Frank H. Herbert Al Gourley


Davies Ward Phillips & Vineberg LLP Stikeman Elliott LLP