Barrick to Buy Equinox for $7.69 Billion, Topping Minmetals Bid in CASH

http://noir.bloomberg.com/apps/news?pid=20601087&sid=aY4WPbxgqq_4&pos=5

April 25 (Bloomberg) -- Barrick Gold Corp., the world’s biggest gold company, agreed to buy copper producer Equinox Minerals Ltd. for C$7.32 billion ($7.69 billion) in cash, trumping an offer from China’s Minmetals Resources Ltd.

SS SAYS - WITH BOTH GOLD AT AN ALL TIME HIGH - AND COPPER AS WELL COMPARED TO LOW IN 2008  - THIS DEAL SOUNDS LIKE IRRATIONAL HUMAN BEHAVIOR TO ME.

I AM SURE THEY THINK THAT GOLD IS GOING $5000 OR HIGHER.

IN MY VIEW - THEY SHOULD HAVE WAITED A BIT.................