(Alliance News) - Barrick Gold Corp is to speak with Acacia Mining PLC's minority shareholders, it said Wednesday, over its proposal to take full control.
The statement was in response to an article in Bloomberg News on Tuesday saying Barrick will not increase its proposed offer, but will talk to other shareholders in the next few weeks.
Barrick already owns 64% of Tanzania-focused gold miner Acacia. Barrick now has until July 9 to make a firm offer for the rest of Acacia's shares, with the prior deadline being Tuesday, after Acacia approved an extension shortly before the deadline.
It has proposed offering 0.153 new Barrick shares per Acacia share, valuing Acacia at USD787 million, with the stake under offer worth USD285 million.
Earlier Wednesday, Acacia in its own statement "strongly" disagreed with Barrick's criticism of its mining plans in Tanzania.
Acacia shares were 0.5% lower on Wednesday at a price of 172.22 pence each.
