Miner Acacia agrees to increased buyout offer from Barrick
The logo of sponsor Barrick Gold Corporation is seen as visitors arrive at the PDAC annual convention in Toronto, Ontario, Canada March 4, 2019. Barrick has agreed to buy out fellow shareholders in Acacia. PHOTO | REUTERS
Barrick Gold Corp has agreed to buy out fellow shareholders in Acacia Mining in a deal that values the firm at 951 million pounds ($1.1 billion), ending a two-month standoff between the world’s second biggest gold miner and its Africa unit.
Barrick had spun off Acacia into a separate company in 2010, but owns about 64 per cent of the company.
