Company News

BUZZ-Barrick Gold rises after deadline to make formal bid for Acacia extended

** Shares of Canada’s Barrick Gold Corp rise 1.3% to C$14.3

** Co gets more time to make firm offer for Acacia Mining Plc

** It proposed to takeover Acacia last month in a deal that valued it at $787 million

** Barrick had until June 18 to make a formal bid for Acacia or walk away from the deal; deadline now extended to July 9

** Acacia’s ongoing dispute with the Government of Tanzania has made it impossible for the miner to function as an independent public co - Barrick

** Separately Barrick CEO says co’s shareholders do not want co to destroy Acacia value but also do not want to give away value

** Stock up ~4.2% YTD (Reporting By Arundhati Sarkar in Bengaluru)