The gold miner’s shares lost about 20% on May 31, when it announced the all-share transaction, and has not recovered since.
UK investment firm Redwheel, one of the South African miner’s top investors, said in June that Gold Fields was making “a serious error” in its takeover strategy.
Gold Fields chief executive Chris Griffith, however, said on Monday the company remained committed to the deal, adding that he was “greatly encouraged” by the “constructive” discussions with shareholders over the proposed deal.
“The acquisition of Yamana represents the culmination of many months of assessing the best option to accelerate Gold Fields’ growth strategy and deliver long term shareholder value,” Griffith said.
“Moving now to complete this transaction is the best opportunity for both speed of delivery and value to accelerate the next phase of the company’s growth,” he noted.
Under the new dividend policy, Gold…
