DELTA OUT OF BIDDING WAR WITH ANGLOGOLD

ANGLOGOLD Ltd said on Thursday that it is proceeding with a bid for Australian gold miner Acacia Resources after rival suitor Delta Gold declined to enter a bidding war for Acacia. Delta Managing Director Terry Burgess said on Wednesday that it would withdraw its all-stock offer for Acacia as soon as the Australian Stock Exchange opened on Thursday. Burgess said that Delta had considered topping AngloGold’s bid, but ultimately decided it is “not in line with Delta’s core business of adding value to shareholders.”