Deals
Barrick Offers More Talk But Not More Stock for Acacia Stake
- CEO Bristow says he seeks 75% minority support for proposal
- VanEck says resolution is best outcome for all shareholders
Photographer: Simon Dawson/Bloomberg
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Barrick Gold Corp.’s CEO has no intention of raising his offer to buy out the rest of troubled African unit Acacia Mining Plc -- but he will use the next three weeks to talk.
Barrick said in a statement on Tuesday it received a three-week extension to make a formal offer to minority shareholders for the roughly 36% stake in Acacia it doesn’t already own.