The Financial Post reports in its Saturday edition that Barrick has no intention of increasing its hostile offer for Newmont Mining Corp., according to a source who asked not to be identified. A Bloomberg dispatch to the Post says that Barrick wants to buy Newmont in an all-share $17.8-billion (U.S.) hostile deal that valued the rival miner's stock at 8 per cent below the prior closing price. Newmont responded that its board would consider the offer, while saying that its own pending takeover of Goldcorp offered "superior benefits." The fact that Barrick will not increase its offer is further indication "that their unsolicited negative premium bid is really intended to scuttle our previously announced combination with Goldcorp rather than generating value for Newmont shareholders," Omar Jabara, a spokesman for Newmont, told Bloomberg. "Their intentions are highly suspect." Barrick's chief executive officer has defended the lack of a premium in the deal, saying there are $7-billion (U.S.) in synergies from the combination and that will add value. Barrick executive chairman John Thornton pushed the Randgold Resources acquisition in a zero-premium deal. Newmont offered a 17-per-cent premium to buy Goldcorp.