- Gold Fields submitted non-binding indicative proposal on 13 Sept 2026.
- Northern Star board declined to engage on 24 Sept 2026.
- Offer: 0.3125 GFI shares + A$7.25 cash per NST share, implied A$27.00/share.
- 22% premium to undisturbed price (11 Sept close).
- Combined entity would produce ~4.1M oz annually.
- Estimated synergies US$4-5 billion.
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