Gold Fields to Buy Osisko Mining for $1.57 Billion
By Ian Walker
Gold Fields is set to buy Osisko Mining for $1.57 billion, giving the South African company full control of the Windfall project in Canada.
Under the deal Gold fields is offering 4.90 Canadian dollars in cash for each Osisko share held. The price is a 67% premium to its closing price of 2.94 Canadian dollars on Friday.
"Over the past two years, beginning with our initial due diligence in 2022 and throughout our joint ownership of the Project since May 2023, we have developed a strong understanding of Windfall and its potential, and view it as the next long-life cornerstone asset in our portfolio," Gold Fields Chief Executive Mike Fraser said Monday.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
August 12, 2024 01:42 ET (05:42 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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