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BRIEFLY

September 16, 1987

Corporate raider T. Boone Pickens Jr. raised the stakes in his quest for Newmont Mining Corp. by increasing his offer to $105 a share from a $95-a-share bid that was rejected last week. Ivanhoe Partners, led by Pickens, boosted its bid for the natural resources company, which has the largest reported reserves of gold in North America. If Newmont tops whatever proposal is on the table, eventually Pickens could lose the battle for control but bank a hefty profit on his investment. Newmont Mining shares rose $5.625 on the New York Stock Exchange to $101.125.

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