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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Acacia Mining plc    ACA   GB00B61D2N63

ACACIA MINING PLC

(ACA)
Delayed Quote. Delayed London Stock Exchange - 09/17 02:30:00 am
234 GBp   -0.26%
09/18ACACIA MINING : De-listing & cancellation of trading of Acacia Shares
PU
09/18ACACIA MINING : De-listing & cancellation of trading of Acacia Shares
PR
09/17ACACIA MINING : Form 8.3 - ACA LN
PU
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Acacia Mining Shares Drop on Prospect of Barrick Takeover to Solve Tax Dispute

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05/22/2019 | 04:28am EDT

By Adam Clark

Acacia Mining shares fell on Wednesday after its board said it would consider a takeover proposal from former parent Barrick Gold Corp, as a possible way to resolve its dispute with the Tanzanian government.

Barrick, which still has a 64% stake in Acacia, said late Tuesday that it had proposed acquiring the London-listed miner via a stock swap of 0.153 Barrick share for each share of Acacia it doesn't already own.

The deal implies a value for Acacia of $787 million and total consideration to Acacia's minority shareholders of $285 million, Barrick said.

Acacia shares at 0753 GMT traded down 4.6% at 152.10 pence, valuing the company at 623.7 million pounds ($793.1 million).

Acacia has been locked in a tax dispute in Tanzania, which canceled mining licenses for many companies, raised taxes and royalty payments and accused the company of underreporting gold and copper production. Barrick said Tuesday that the basis for a settlement has been developed but the Tanzanian government has refused to enter into a deal directly with Acacia.

The board of Acacia said it would seek clarification of the Tanzanian government's position and advised shareholders to take no action in the meantime.

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

Stocks mentioned in the article
ChangeLast1st jan.
ACACIA MINING PLC -0.26% 234 Delayed Quote.27.66%
BARRICK GOLD CORPORATION 0.40% 22.58 Delayed Quote.21.43%
GOLD -0.13% 1490.893 Delayed Quote.16.43%
LME COPPER CASH 0.75% 5726.5 End-of-day quote.-1.93%
RANDGOLD RESOURCES -1.71% 6546 Delayed Quote.0.00%
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Latest news on ACACIA MINING PLC
09/18ACACIA MINING : De-listing & cancellation of trading of Acacia Shares
PU
09/18ACACIA MINING : De-listing & cancellation of trading of Acacia Shares
PR
09/17ACACIA MINING : Form 8.3 - ACA LN
PU
09/17ACACIA MINING : Form 8.3
PU
09/17ACACIA MINING : Form 8.5 (EPT/RI)- Acacia Mining plc
PU
09/17ACACIA MINING : Scheme becomes Effective
PU
09/17ACACIA MINING : Scheme becomes Effective
PR
09/16FORM 8.3 - THE VANGUARD GROUP, INC. : Acacia Mining plc
PU
09/16ACACIA MINING : Form 8.3 -ACA LN
PU
09/16ACACIA MINING : Form 8.3 - Barrick Gold Corporation
PU
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Managers
NameTitle
Peter Geleta Chief Executive Officer & Executive Director
Rachel English Chairman
Jaco Maritz Chief Financial Officer
Stephen Galbraith Non-Executive Director
Stephen Charles Burrard Lucas Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
ACACIA MINING PLC27.66%1 196
NEWMONT MINING CORPORATION10.94%31 401
BARRICK GOLD CORPORATION21.43%30 444
NEWCREST MINING LIMITED51.88%17 331
POLYUS PAO--.--%15 011
SHANDONG GOLD MINING CO., LTD52.59%13 309