Barrick’s higher bid wins over other Acacia shareholders
Relations between Barrick and Acacia have been strained for years, particularly after Tanzania hit Acacia with a $190bn tax bill
19 July 2019 - 17:42
Toronto/London — Barrick Gold has struck a deal to buy out its fellow shareholders in Acacia Mining with a higher bid than originally proposed, raising expectations Acacia's long-running tax dispute with the Tanzanian government will finally be resolved.
The original buyout proposal from Barrick, which owns 63.9% of Acacia, drew accusations from minority shareholders that Barrick was taking advantage of the Tanzania-focused company's woes to buy it on the cheap. But Acacia acknowledged that a takeover would be the best solution to its problems...
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