Canada: Barrick Bids for Cadence.

The Barrick Gold Corporation, the world's largest gold producer, raised its bid for the oil and natural gas explorer Cadence Energy by 13 percent to widen its advantage over a competing bid. The all-cash offer of 410 million Canadian dollars ($409 million), or 6.75 Canadian dollars a share, was submitted to Cadence's board, Barrick said. Barrick, based in Toronto, said on July 14 that it had proposed an all-cash offer of 354 million Canadian dollars. The competing bid came from Daylight Resources Trust, which offered 301 million Canadian dollars for Cadence on May 26. Cadence and Daylight Resources are both based in Calgary. [ABSTRACT FROM PUBLISHER]