Australia: Barrick Gold bid gets a hand from Clayton Utz
Last Updated: 1 May 2011

Clayton Utz has acted as Australian counsel to global miner Barrick Gold in connection with its CAN$7.3 billion (US$7.7 billion) all-cash takeover offer to acquire ASX and TSX listed Equinox Minerals Limited, announced on 25 April 2011.

The takeover represents the largest Australian M&A transaction announced in 2011 year-to-date and is also the largest Australian resources inbound M&A transaction since ConocoPhillips' US$7.9 billion acquisition of coal seam gas assets in 2008 (on which Clayton Utz acted for Origin Energy).

Clayton Utz's national M&A practice head John Elliott, with support from senior associate Adrian Beerworth, led the Clayton Utz team, which included partner Mark Friezer and senior associate Louisa Wu.

Commenting on the transaction, Mr Elliott said: "This is another example of the recent cross-border M&A activity we've seen in Australia and of the continued dominance of Energy & Resources sector deals in this market."

This transaction continues Clayton Utz's trusted adviser role to Toronto-based Barrick Gold – the world's largest gold miner – on a number of transactions, including Barrick's takeover of Tusker Gold Limited in 2010.

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