Barrick Gold Corporation (TSX:ABX) made an offer to acquire remaining 36.1% stake in Acacia Mining plc (LSE:ACA) from FIL Limited, Legal & General Investment Management Limited, Odey Asset Management LLP and others for approximately $280 million on May 21, 2019. Under the terms of the transaction, Barrick Gold Corporation will issue 0.153 shares for every ordinary share of Acacia. As of July 19, 2019 Barrick Gold, announced that it will issue 0.168 shares for every ordinary share of Acacia. As of June 17, 2019, Barrick must either firm up its proposal to acquire the 36.1% of Acacia it does not own as of June 18, 2019 or otherwise, it will not be able to make an offer for at least six months. As of June 18, 2019, Barrick has requested for an extension in deadline. In light of the request, an extension has been granted by the panel but not later than July 9, 2019, either to announce a firm intention to make an offer or to announce that they do not intend to make an offer. As of July 7, 2019, Legal and General Investment Management Ltd opposed the offer. As of July 8, 2019, the offer was opposed by Odey Asset Management LLP. The transaction is subject to approval by the Board of Acacia Mining plc and other customary conditions. As of June 1, 2019, FIL Limited says they are to reject the offer. As of July 19, 2019, Acacia's Board intends to recommend the offer, which needs to be approved by at least 75% of its minority shareholders. As of July 22, 2019, Odey Asset intends to vote in favor of the final offer. The takeover is expected to be completed in the fourth quarter of 2019. As of August 12, 2019, a scheme of agreement was announced by Acacia which once approved will result in issue of 24.836 million new Barrick shares on the stock exchange. Under the terms of the acquisition, Acacia shareholders (including Barrick or any other member of the Barrick Group) whose names appear on the register of members of Acacia at the scheme record time (irrespective of whether or not they attended and voted at the court meeting or the general meeting (and if they attended and voted, whether or not they voted in favor of the Acquisition), will be entitled to receive and retain the Acacia exploration properties special dividends and any deferred cash consideration dividends (if applicable) paid as a consequence of the sales process to realize value from the sale of certain of the Acacia Exploration Properties. The transaction is subject to approval by the respective competition authorities, regulatory bodies and Acacia shareholders. The scheme was approved at the Court Meeting and the General Meeting of Acacia shareholders held on September 3, 2019. The transaction has been sanctioned by the High Court of Justice in England and Wales on September 13, 2019. The transaction is expected to conclude on December 31, 2019. As of September 13, 2019, the transaction is expected to complete on September 17, 2019. Barry Weir, James Robinson and Dimitri Reading-Picopoulos of J.P. Morgan Cazenove Limited and Kevin Smith, Paul Betts and Vicky Liu of RBC Capital Markets acted as joint lead financial advisors for Acacia. Spiro Youakim, Gustavo Plenge and William Lawes of Lazard & Co., Limited acted as financial advisors to the Independent committee of Acacia Mining. Hugo Dryland, Karina Danilyuk and Roger Ewart Smith of Rothschild & Co acted as financial advisor to Barrick Gold Corporation (TSX:ABX). Steve Suzzan of Norton Rose Fulbright LLP and Shearman & Sterling (London) LLP acted as legal advisors for Barrick and Acacia respectively. Gordon Poole and Nick Hennis of Camarco acted as financial advisor to Acacia Mining. Melanie Shishler, Geoffrey S. Turner, Robin Upshall and Steven Cutler of Davies Ward Phillips & Vineberg LLP acted as legal advisors to Barrick Gold Corporation.

Barrick Gold Corporation (TSX:ABX) completed the acquisition of remaining 36.1% stake in Acacia Mining plc (LSE:ACA) from FIL Limited, Legal & General Investment Management Limited, Odey Asset Management LLP and others on September 17, 2019. As on September 17, 2019, all the conditions set out in the scheme document have been satisfied or waived and the scheme has become effective in accordance with its terms. This will also delist Acacia. Angela Mndolwa, Gaspar Nyika, and Burure Ngocho of Tanzania office of DLA Piper acted as legal advisors for Barrick Gold Corporation.