British hedge fund Odey Asset Management said on Thursday it would reject any offer from Barrick Gold for its stake in Acacia Mining that is framed as "best and final", becoming the second Acacia investor to publicly oppose the Canadian mining giant’s buyout proposal.
"Odey is not rejecting any specific level of firm offer," the firm, a top ten shareholder in Acacia, said in an e-mailed statement. "Rather, Odey is preemptively committing to reject a specific style of opening firm offer."