Gold Fields (GFI) Stock News

Gold Fields: it could remain disciplined and prudent in approach.

Gold Fields: it continues to seek engagement with Northern Star board.

Gold Fields said a potential transaction would create the second-largest global gold producer. The comment follows Northern Star's rejection of a takeover proposal from Gold Fields.

Northern Star Resources shareholders would own approximately 33% of the combined company upon completion of its merger with Gold Fields, according to the companies.

Gold Fields: northern Star assets are highly complementary with its portfolio.

Gold Fields issued a statement citing strong strategic rationale for its proposed transaction, without providing new financial details.

Gold Fields said its approach to Northern Star Resources is consistent with its strategy. The statement follows Northern Star's rejection of a $27.2 billion takeover proposal. The bid offered 0.3125 Gold Fields shares plus A$7.25 cash per Northern Star share. Northern Star's board called the proposal opportunistic. Gold Fields remains open to dialogue but said there can be no certainty of further engagement.

Gold Fields: northern Star board declined further talks on takeover.

Gold Fields said it submitted a nonbinding proposal to acquire Northern Star on Sept. 13, correcting the earlier reported date of Sept. 14. The proposal was rejected by Northern Star's board. Gold Fields remains open to further engagement.

Gold Fields submitted a non-binding indicative proposal on 13 Sept to acquire 100% of Northern Star via scheme of arrangement. Northern Star board declined to engage. Terms: 0.3125 GFI shares + A$7.25 cash per NST share, implying A$27.00/share. Combined entity would be second-largest global gold producer with ~4.1M oz production and US$4-5bn estimated synergies. No certainty of deal.

Gold Fields released a continuation of its comment on Northern Star, including financial footnotes and forward-looking statements regarding the proposed combination. The announcement references Northern Star's share price and NAV, and provides details on production and reserves.

Macquarie says the rejected Gold Fields takeover proposal for Northern Star puts a floor under the stock because it shows clear corporate interest. Northern Star trades at a roughly 6% discount to Gold Fields on valuation. Macquarie has neutral rating and A$22.50 target. Shares up 8.1% at A$23.91.

RBC Capital Markets says Gold Fields' rejected takeover proposal for Northern Star values the miner at 8.7x EV/Ebitda, a 16% premium to Evolution Mining and 48% above its ASX gold coverage. Northern Star shares rose 8.5% to A$23.98.

Gold Fields expressed interest in acquiring Northern Star Resources, but Northern Star rejected the approach, according to people familiar. Gold Fields is considering next steps.

Gold Fields is said to be evaluating its options after being rebuffed, according to a market source. No further details are available.

Gold Fields lifts shareholder returns as earnings jump on higher gold prices.