PRECIOUS METALS

Griffith says investors warming to Gold Fields-Yamana deal

WHILE institutional gold investors are calling for greater consolidation in the sector, the proposed all-stock merger of Gold Fields and Yamana Gold announced at the end of May initially ran into some investor headwinds due to the 33.8% premium it included.

Gold Fields CEO Chris Giffith

Gold Fields CEO Chris Giffith

Van Eck was once of the institution investors irked by the premium, reminding its clients in a research note that the five zero-premium deals among eight mergers of majors and mid-tiers since 2019 outperformed...

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