TORONTO - Barrick Gold Corp. has made a proposal to acquire the shares in Acacia Mining that it does not already own. Under the proposal, Barrick, which holds a majority stake in the African gold miner, would swap 0.153 of a Barrick share for each Acacia share. The offer implies a value for Acacia of US$787 million, and the total consideration for Acacia’s minority shareholders at US$285 million. The plan is subject to a number of customary conditions, including receiving the recommendation of the Acacia board. Barrick says it has been working to help settle a tax dispute between Acacia and the government in Tanzania, but the African country is not prepared to enter into a settlement agreement directly with Acacia.

Source: thestar May 22, 2019 11:22 UTC