22nd Jul 2019 10:26
(Alliance News) - Acacia Mining PLC shareholder Odey Asset Management LLP is to accept the takeover offer from Barrick Gold Corp, it said Monday.
On Friday, Acacia accepted a 232 pence per share offer from 64% parent Barrick, all in shares, valuing it at GBP951 million. This was far higher than a previous 146p proposal.
Odey, which owns 2.3% of Tanzania-focused gold miner Acacia, had previously indicated it would reject the 146p proposal, the Financial Times had reported earlier in July.
Acacia shares were 0.2% higher on Monday morning at 223p.
Related Shares:
ACA.L