Crispin Odey backs higher price for Acacia ahead of Barrick bid
BARRICK Gold faced pressure yesterday amid reports that a major shareholder will reject any bid for Acacia Mining below 271p per share.
It comes as a blow to the Canadian miner, which is mulling a 196p per share bid for the company.
SRK Consulting has estimated the company is worth 271p per share. It used a $1,300 per ounce gold price.
"We cannot see any logical reason to be willing to sell a security without marking it to market, and in this case that means marking it to $1,40...