(Alliance News) - Odey Asset Management will reject Barrick Gold Corp if it makes an offer for Acacia Mining PLC at its current proposed price, the Financial Times reported Wednesday.
Odey, the FT said, is a 2.3% shareholder in Tanzania-focused miner Acacia.
Barrick owns 64% of Acacia and has offered USD285 million for the rest, offering up 0.153 new Barrick shares per Acacia share, an offer worth 146 pence.
However, a report released Tuesday by Acacia, compiled by SRK Consulting UK Ltd, valued Acacia at between 271p to 281p.
Odey, the FT said, will reject any offer at 271p or below.
https://www.ft.com/content/fc54c18c-a2ff-11e9-974c-ad1c6ab5efd1
