“There hasn’t been a major exodus of our top shareholders,” Griffith said while attending the Denver Gold Forum. “We have seen some shareholders sell on a bit but others increase. But mostly our top 10 shareholders have remained fairly constant — that does give us a sense of comfort around our shareholders supporting the deal.”
Gold Fields offered 0.6 of a share for each Yamana share in its initial proposal in May, and in July the company announced a more generous dividend policy to convince investors to support the deal. The deal currently values Yamana’s stock at C$6.01, representing a 6.7% premium to Tuesday’s closing price, according to data compiled by Bloomberg.
Gold Fields counts South Africa’s Public Investment Corp. and BlackRock Inc. among its biggest shareholders. The gold producer needs at least 75% of its investors to back the takeover of Yamana, which has assets in Canada, Argentina, Chile and…
