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Company News

BUZZ-Acacia Mining: Falls after Barrick Gold bids to take full control

** Shares of precious metals miner Acacia Mining fall 5.95% to 150 pence - among top percentage losers on the FTSE 250 index

** Majority owner Barrick Gold Corp proposed to acquire all of the shares it does not already own in Acacia in stock

** ABX’s proposal values Acacia at $787 mln

** Traders say ABX proposal at a ~5% discount to ACAA’s current share price

** ACAA says it remained out of the discussions between ABX and Govt of Tanzania on a tax dispute

** An outcome whereby Acacia could return to a normalised operating environment in Tanzania appears increasingly unlikely, says Jefferies

** ACAA has fallen 17.5% so far this year (Reporting by Karina Dsouza in Bengaluru)

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