Reported 2 months ago
Gold Fields Ltd. has reached an agreement to acquire Osisko Mining Inc. for C$2.16 billion ($1.6 billion), driven by soaring gold prices prompting expansion efforts. This acquisition gives Gold Fields full ownership of the Windfall project in Quebec and aims to enhance its operations beyond South Africa. The deal includes a 66.7% premium on Osisko's recent closing price, with expectations for completion by the end of the year, while Gold Fields plans to fund the purchase through cash reserves and new debt.
Source: YAHOO