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Gold Fields Sees Investors Backing $7 Billion Yamana Deal

  • CEO says there hasn’t been exodus of top investors on takeover
  • Shareholders votes are expected to take place in mid-November
Chris Griffith

Chris Griffith

Photographer: Jason Alden/Bloomberg
Updated on

Gold Fields Ltd.’s top executive said disquiet over the South African miner’s $7 billion offer to buy Canada’s Yamana Gold Inc. hasn’t resulted in an exodus among its top shareholders.

The top Gold Fields investors are sticking around even after some shareholders initially expressed concerns that the Johannesburg-based company was overpaying to buy Yamana, Chief Executive Officer Chris Griffith said Tuesday in an interview. The CEO previously acknowledged that some investors initially balked at the 34% premium Gold Fields initially offered to investors of the Toronto-based miner along with the subsequent share dilution.