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Barrick CEO Says Nothing Exploitive in Play for Acacia Shares

  • ‘It’s a well-considered, fair and proper proposal’: Bristow
  • Gold CEO won’t disclose next move or plans for arbitration
Mark Bristow
Mark BristowPhotographer: Simon Dawson/Bloomberg
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A low-ball proposal by parent Barrick Gold Corp. to buy out Acacia Mining Plc is an “appropriate” and “elegant” solution to a two-year dispute that has devastated the relationship between the global miner and one of its African subsidiaries, Barrick’s CEO says.

Barrick is not prepared to consider raising its bid at this point, Mark Bristow said Friday. He also declined to comment on the reaction his proposal has received from Acacia’s minority shareholders, saying only that he is engaged in regular discussions with Barrick investors, many of whom also hold Acacia shares.