Acacia Mining agrees to Barrick's improved takeover offer

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Acacia Mining agreed to Barrick Gold's improved takeover offer for the shares that the latter does not already own.

Under the terms of the improved, Acacia shareholders would receive 0.168 new Barrick shares for each Acacia share, about 10% more than Barrick's initial offer of 0.153 Barrick share for one Acacia share.

Barrick currently owned 262,246,950, or a 63.9% stake in Acacia.

The terms of the offer for the outstanding shares were valued at approximately 232p per Acacia Share, approximately £343m, with the miner valued at £951m.

The deal comes as Barrick continues talks with the government Tanzania to settle a dispute that had halted Acacia's exports of gold and copper concentrates since 2017.

At 9:33am: (LON:ACA) Acacia Mining Plc share price was +35.6p at 222.2p