Gold Fields (US.GFI) to Buy Canada’s Yamana to Become No. 4 Producer
Gold Fields Ltd. agreed to buy Canadaâs Yamana Gold Inc. for about $7 billion in shares in a deal that will make the South African miner the worldâs No. 4 gold producer. Johannesburg-based Gold Fields will offer 0.6 of one of its shares for each Yamana share, the company said in a statement. Based on the 10-day volume weighted average traded price of Gold Fieldsâ American depositary shares, the deal would imply a 34% premium to Yamanaâs closing share price on May 27, the company said. Gold Fields fell as much as 13% in Johannesburg trading. 
The tie-up is the latest in a revived shift toward consolidation in the gold industry over the past year. Newcrest Mining Ltd. agreed in November to buy Pretium Resources Inc. in a cash and shares deal valuing the Canadian gold producer at about $2.8 billion, while in September, Agnico Eagle Mines Ltd. and Kirkland Lake Gold Ltd. announced a âmerger of equalsâ valued at about C$13.4 billion.
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