(AP) Barrick Gold Corp., one of the world's largest gold producers, said Monday it is offering to acquire Vancouver-based gold miner Placer Dome Inc. for about $9.2 billion in cash and stock.

Under the proposed deal, Placer Dome's shareholders would get $20.50 in cash, or a combination of 0.7518 of a Barrick common share plus 5 cents in cash, for each Placer Dome share.

The offer represents a 24 percent premium over Placer Dome's closing price Friday, and a 27 percent premium over its average closing price over the last 10 days.

Placer Dome shares jumped $3.28, or 19.9 percent, to $19.79 in morning trading on the New York Stock Exchange, while Barrick shares fell $1.55, or 5.7 percent, to $25.65.

Barrick said it will pay a maximum $1.22 billion in cash and issue a maximum 303 million shares under the deal.

The value of the deal increases to $9.5 billion if all Placer Dome convertible debt securities and stock options are converted to common shares, Barrick said.

In connection with the acquisition, Barrick signed a separate agreement with Goldcorp Inc., also of Vancouver, in which it will sell some of the assets it acquires from Placer Dome to Goldcorp for $1.35 billion in cash.

Many of Barrick's operating mines, development projects and exploration sites are located near those of Placer Dome and Goldcorp, the company said, estimating total efficiencies from the deals of $240 million a year.

Goldcorp shares rose 76 cents, or nearly 4 percent, to $20.14 on the NYSE.

After the acquisition, Barrick said the combined company will have 149.8 million in proven and probable gold reserves, and copper reserves of 6.54 billion pounds, on a pro forma basis. As of Sept. 30, it would have had $2.4 billion in cash on hand, and earnings before interest, taxes, depreciation and amortization of about $1 billion.

To Goldcorp, Barrick plans to sell Placer Dome's interest in three Ontario gold mines, a gold and silver mine in Chile, its Canadian exploration properties and a 40 percent stake in a development project in the Dominican Republic. Goldcorp said the deal would boost its gold production by about 50 percent and its gold reserves by 83 percent.

Goldcorp said it will pay for the purchase with available cash, existing credit and new financing totaling $700 million.