July 22, 2019 / 9:19 AM / 3 months ago

Acacia investor Odey to back Barrick's final offer

FILE PHOTO: The logo of sponsor Barrick Gold Corporation is seen as visitors arrive at the Prospectors and Developers Association of Canada (PDAC) annual convention in Toronto, Ontario, Canada March 4, 2019. REUTERS/Chris Helgren/File Photo

(Reuters) - British hedge fund Odey Asset Management said on Monday it intends to vote, on behalf of its clients, in favor of Barrick Gold Corp’s (ABX.TO) (GOLD.N) final offer to buy out its fellow shareholders in Acacia Mining ACAA.L.

The approval comes after Odey said last month that it would reject any offer from Barrick for its stake in Acacia that is framed as “best and final”.

Odey holds a 2.31% stake in Acacia according to Refinitiv Eikon data.

Reporting by Noor Zainab Hussain in Bengaluru; editing by Jason Neely

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