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Gold Fields target Yamana catches eyes of Agnico Eagle and Pan American
By Helen Reid and Mrinalika Roy
Reuters
Friday, November 4, 2022
Agnico Eagle Mines Ltd.and Pan American Silver Corp swooped in Friday with a joint bid for Yamana Gold in an attempt to scupper Gold Fields' planned acquisition of the Canada-listed gold miner.
The cash and stock offer, valuing Yamana at around $4.8 billion, would see Agnico and Pan American split Yamana's mines between them. Yamana shareholders would receive $1.0406 in cash, 0.0376 of an Agnico Share, and 0.1598 of a Pan American Share for each share held.
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Reyna Gold Identifies Major Geophysical Anomalies
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Company Announcement
November 1, 2022
Reyna Gold Corp. (TSXV: REYG, OTCQB: REYGF) announces more results from the ongoing district-scale exploration at its 24,215 hectare La Gloria Property in Sonora, Mexico.
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South Africa's Gold Fields had agreed to take over Yamana in an all-stock deal valuing it at $6.7 billion in May.
But a slump in its shares after the deal was announced dented the valuation and at Thursday's close the all-stock offer valued Yamana at just north of $4 billion.
Yamana, whose shares were up 15% after news of the rival bid, said it had informed Gold Fields that the new offer was a "superior proposal." Gold Fields has five business days to make a new offer should it wish to. ...
... For the remainder of the report:
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