JOHANNESBURG, Aug 12 (Reuters) – Gold Fields Ltd has agreed to acquire Osisko Mining for C$2.16 billion ($1.57 billion), it said on Monday, barely two years after an attempt to buy another Canadian miner was scuppered by a rival offer.
The Johannesburg-based gold producer will pay C$4.90 per share, a 55% premium to Osisko’s Aug. 9 trading price, it said in a statement. The deal will help the South African producer expand its presence in the Americas region, where it already has mines in Chile and Peru.
Osisko shares soared 63% as trading opened in Toronto on Monday, while Gold Fields shares extended losses to trade 5.6% down at 1431 GMT, at their lowest since early July. CEO Mike Fraser told Reuters that making a cash offer had helped Gold Fields move quickly, and also avoided a share dilution.
For the rest of this article: https://www.reuters.com/markets/deals/gold-fields-acquire-osisko-mining-about-16-bln-2024-08-12/