(Bloomberg) -- Barrick Gold Corp., the world's biggest gold producer, today sold its entire stake in NovaGold Resources Inc. after its hostile takeover bid failed.
Barrick Gold was the largest NovaGold shareholder, owning 13.6 million shares of the Vancouver-based gold mining company for a 14.8 percent stake. Barrick's attempt to buy NovaGold for $1.71 billion failed in December.
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