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Gold Fields to buy Canada's Osisko in $1.6 billion deal with 67% share price premium
By Sybilla Gross, Thomas Biesheuvel, and William Clowes
Bloomberg News
via Yahoo News, Sunnyvale, California
Monday, August 12, 2024
Gold Fields Ltd. agreed to buy Canada's Osisko Mining Inc. in a deal valued at C$2.16 billion ($1.6 billion) as soaring prices for the precious metal drive producers to seek expansion.
The acquisition, which gives Gold Fields full control of a project in Canada, is the latest step by the South African miner to diversify away from the country where it made its name. Those efforts included a failed bid for Toronto-based Yamana Gold Inc. two years ago.
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The Johannesburg-listed company will use cash to purchase all outstanding shares in Osisko at a price of C$4.90 apiece, Gold Fields said in a statement today. That represents a 66.7% premium to Osisko's closing price on Friday, according to Bloomberg's calculations. ...
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https://finance.yahoo.com/news/gold-fields-buys-canada-osisko-054714330.html
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