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Battle for Gruyere: Gold Fields’ Bid to Take Full Control of Australian Mine Rejected

Australian gold miner Gold Road Resources has rejected a $2.1 billion takeover bid from South African miner Gold Fields, describing it as “highly opportunistic” and undervaluing the company.

The offer aims to consolidate Gold Fields’ ownership of their jointly operated Gruyere gold mine in Western Australia.

Despite the rejection, Gold Fields’ CEO Mike Fraser remains confident that Gold Road shareholders will support the deal.

This attempted acquisition comes amid increasing merger and acquisition activity in the gold mining sector, driven by record-high gold prices.

Original Source: Reuters

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