GoldFields will bank a R5.3bn termination fee within the next few days, after Yamana Gold’s board rejected its takeover bid. Moneyweb companynews
Gold Fields will bank a $300 million termination fee within the next few days, after Yamana Gold’s board rejected its takeover bid in favour of a rival $4.8 billion cash-and-shares bid from Pan American Silver Corp and Agnico Eagle Mines. Half of the $300 million termination fee is to be paid by Pan American. Gold Fields originally bid $6.
The company has a strong footprint in Canadian gold mining, as well as in Brazil and Chile. Stuck to its guns Griffith says he is pleased Gold Fields stuck to its disciplined financial strategy and refused to counter the offer from Pan American Silver Corp and Agnico Eagle Mines.
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