“Gold Fields will continue to work towards completion of the transaction on its current terms for the benefit of the shareholders of both companies in accordance with the arrangement agreement,” it said on Monday.
The South African miner added its decision reflected “commitment to capital discipline” as well as fairness for shareholders in both the company and Yamana.
It also said its offer was “strategically and financially superior” to the deal presented by Pan American and Agnico Eagle.
The statement contradicts what the two Canadian miners said in their joint press release, which stated that Yamana’s board of directors has already accepted their offer as “superior”.
Gold deal of the year
Gold Fields, which offered to buy Yamana in May, sees the proposed takeover as the gold deal of the year. It would create the world’s fourth-largest gold miner, surpassing Agnico Eagle.
The company reiterated that…
