Merrill shrugs off failed bid with new $9bn mining deal

Merrill Lynch has landed its second gold mining mandate in 10 months, advising Goldcorp, the Canadian gold producer, on its $8.6bn (€6.7bn) bid for rival Glamis Gold. The deal comes just weeks after another of the bank's clients was forced to pull a $16.1bn bid in the sector.

The US banking group advised Goldcorp alongside CIBC World Markets,on the $51.49-per share deal, which is expected to complete in November. JP Morgan and Orion Securities advised Glamis.

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Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a BillionaireExternal link

Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a Billionaire