The mining giant is buying the Canadian explorer for £5.50 (US$9.19) per share, the pair said on Monday.
The all-cash deal is expected to close this quarter.
The agreement also axes a proposed merger between Caracal and TransGlobe Energy, agreed last month.
What would effectively have been a near-$700 million takeover of TransGlobe by Caracal would have created a $1.8 billion company with key assets in Chad and Egypt plus non-operated interests in Yemen.
Instead,
