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TOP NEWS: Acacia Mining Agrees Significantly Higher Offer From Barrick

Fri, 19th Jul 2019 07:44

(Alliance News) - Acacia Mining PLC has agreed a full takeover by parent Barrick Gold Corp, it announced Friday, at a valuation well above what Barrick had previously suggested.

Barrick is offering 0.168 of its own shares per Acacia share, which implies a value of 232 pence per Acacia share. This is a 54% premium to Acacia's closing price of 151p on May 20, the day before Barrick announced a possible offer.

The price is also a 24% premium to Acacia's closing price on Thursday in London of 187p.

The agreed deal values the entirety of Acacia at GBP951 million, and given Barrick already has a 64% stake, Barrick will be paying GBP343 million for the stock it does not already own.

The new 232p offer is well above what Barrick had previously proposed, a 0.153 Barrick share offer valuing Acacia at 146p per share.

The offer also comes on the deadline day for an offer to be made, July 19, which had been extended to allow talks to continue between the two parties.

Last week, a review of Acacia's assets by SRK Consulting UK Ltd had valued Acacia at between 271p to 281p per share, Acacia said.

Barrick has been leading talks with the Tanzanian government to resolve Acacia's problems in the country, which date back two years. The government has said it will not engage with Acacia itself, meaning Barrick felt a takeover was the best option.

More News
17 Sep 2019 14:18

Acacia Shares To Be Cancelled After Barrick Sealed Takeover Approval

(Alliance News) - Acacia Mining PLC on Tuesday said its shares will be cancelled from trading this week ahead of Barrick Gold Corp's takeover of the company.Last Friday, the UK High the

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13 Sep 2019 15:18

UK High Court Approves Barrick Gold's Acacia Mining Acquisition

(Alliance News) - Acacia Mining PLC on Friday said its acquisition by Barrick Gold Corp has been sanctioned, leading to trading in Acacia shares to likely be cancelled on Wednesday next offer was

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13 Sep 2019 14:43

FTSE 250 movers: CYBG climbs, gold miners lose their shine

(Sharecast News) - London's FTSE 250 was up by 0.75% at 20,112.33 in afternoon trading on Friday, with CYBG leading the index higher.

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13 Sep 2019 10:24

WINNERS & LOSERS SUMMARY: SSE Rises After Selling Retail Business

(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - WINNERS----------Pearson, up to

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9 Sep 2019 14:08

FTSE 250: Gold miners dulled, Intu surges

(Sharecast News) - London's FTSE 250 was fell by 0.18% to 19,669.56 in afternoon trading on Monday, with precious metals miners leading the way lower.

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4 Sep 2019 13:54

FTSE 250 movers: Metro Bank chugs higher, Kainos falls

(Sharecast News) - London's FTSE 250 was down 0.82% at 19,624.51 in afternoon trading on Wednesday, with Metro Bank leading the index higher.

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3 Sep 2019 14:41

FTSE 250 movers: Restaurant Group slips, AG Barr fizzes higher

(Sharecast News) - London's FTSE 250 was down 0.39% at 19,405.27 in afternoon trading on Tuesday, with Restaurant Group leading the index lower.

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30 Aug 2019 14:32

FTSE 250 movers: Amigo ascends, Gold miners dip

(Sharecast News) - London's FTSE 250 was up 0.69% at 19,425.11 in afternoon trading on Friday, with Amigo Holdings leading the index higher.

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27 Aug 2019 15:55

UK Shareholder Meetings Calendar - Next 7 Days

Wednesday 28 AugustTheWorks.co.ukBBA Aviaition (re Ontic sale)Collagen 29 Oil & 30 2 3 Mining (re

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16 Aug 2019 12:18

LONDON MARKET MIDDAY: Stocks Edge Up Amid US-China Trade Conflict Calm

(Alliance News) - UK stocks were trading mostly higher on Friday at midday, as US-China trade tensions were briefly forgotten and trading on the London Stock Exchange got a late start due to a The

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16 Aug 2019 10:57

WINNERS & LOSERS SUMMARY: RBS Makes Partial Comeback After Steep Fall

(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - WINNERS----------Hiscox, a

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16 Aug 2019 07:59

TOP NEWS: Acacia Gets Tanzania Export Permits, Production Still Halted

(Alliance News) - Acacia Mining PLC said on Friday that gold production at the North Mara mine cannot resume until the Tanzanian environment council reverses a prohibition notice.Acacia to

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16 Aug 2019 07:41

LONDON MARKET PRE-OPEN: Ultra Electronics Gets Big US Navy Deal

(Alliance News) - Stock prices are set to open higher in London on Friday following the previous day's sharp losses as the "mood lightens" after no new trade blows were exchanged the

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16 Aug 2019 07:29

Acacia Mining to resume North Mara exports; Processing ban remains

(Sharecast News) - Acacia Mining said it had resumed gold exports from its North Mara mine after receiving permits from the Tanzanian government, but warned a processing was still in place.

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12 Aug 2019 16:59

LONDON MARKET CLOSE: Hong Kong And Brexit Tensions Weigh On Stocks

(Alliance News) - Stocks in London opened the week in the red as violent clashes between protestors and police in Hong Kong and further Brexit stumbling blocks caused investors to turn away from a

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