12:02 PM EST - Barrick Gold Corp. : is moving into the oil industry to cope with record fuel costs, proposing to take over Cadence Energy Ltd. for $350 million in cash. Barrick's unsolicited $6.00-per-share offer tops a units-and-shares bid from Daylight Resources Trust valued at about $300 million, which Cadence agreed to in May. Barrick Gold Corp.
shares T.ABX are trading off 12 cents at $49.88.
