Barrick Gold Corporation offered to acquire all of the shares it does not already own in Acacia for $428m, implying an enterprise value of $1.2bn. On that basis, the terms of the Share for Share Exchange Ratio represent a premium of 53.5% to the closing price of 151 pence per Acacia Share on 20 May 2019. Barrick currently owns 63.9% of London-listed Acacia. Barrick Gold Corp's offer to buy the rest of Acacia Mining is fair because the Canadian company is taking on more risk by increasing its exposure to Tanzania, said Barrick's CEO. Odey Asset Management, a British hedge fund which holds a 2.31% Acacia, intends to vote behalf of its clients, in favor of Barrick Gold's final offer to buy out Acacia.