Deals
Harmony Drops Most in 5 Months as CEO Snubs Takeover Comment
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Harmony Gold Mining Ltd., Africa’s third-biggest producer of the metal, dropped the most in five months in Johannesburg trading after dismissing a suggestion it could become a takeover target.
The shares fell 3.5 percent to 95 rand at the 5 p.m. close, the largest one-day decline since Oct. 7. The stock yesterday jumped the most in more than two years after RBC Capital Markets said another mining company may bid for Harmony to strip out its Papua New Guinea assets and re-list the rest separately.