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Gold Fields will not make counter-bid for Yamana Gold

Section: Daily Dispatches

By Helen Reid
Reuters
Monday, November 7, 2022

JOHANNESBURG -- The board of South Africa's Gold Fields will not change its offer for Yamana Gold after a surprise rival bid from Agnico Eagle and Pan American, it said on today.

Gold Fields' decision reflects "commitment to capital discipline" and to fairness for shareholders in Gold Fields and Yamana, the South Africa-listed miner said today.

... Dispatch continues below ...


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The joint cash and stock offer from Agnico Eagle and Pan American on Friday trumped the Gold Fields bid, which valued Yamana at around $4.2 billion at Thursday's close. Under the offer, 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. ...

... For the remainder of the report:

https://www.reuters.com/markets/deals/gold-fields-says-it-will-not-make-new-offer-yamana-gold-2022-11-07/

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