Barrick bids for rest of Acacia as Tanzania refuses direct settlement

Toronto-headquartered Barrick Gold has presented a proposal to its London-listed subsidiary Acacia Mining to buy the rest of the shares in the miner that it does not already own for $285-million. The share-for-share exchange of 0.153 Barrick shares for each ordinary share of Acacia implies a value of $787-million for the Tanzania-focused miner.