Gold Fields (NYSE:GFI) to acquire Osisko Mining for $1.57B
Full story: https://grafa.com/news/gold-fields--nyse-gfi--to-acquire-osisko-mining-for--1-57b-260181
Gold Fields (NYSE:GFI) has entered into a definitive agreement with Osisko Mining to acquire all issued and outstanding common shares of Osisko.
This acquisition will grant Gold Fields a 50% interest in the Windfall Project in Canada, a joint venture with Osisko.
Under the terms of the agreement, Gold Fields will purchase the Osisko shares at C$4.90 per share in cash, amounting to a total transaction consideration of approximately C$2.16 billion (US$1.57 billion) on a fully diluted basis.
The enterprise value of this transaction is C$1.48 billion (US$1.08 billion).
The offer price represents a 55% premium to the 20-day volume-weighted average price on the TSX as of August 9, 2024.
This strategic acquisition will enable Gold Fields to fully control the Windfall Project, a highly valued asset.
Additionally, the transaction will allow Gold Fields to extinguish its existing obligations of a C$300 million deferred cash payment and C$75 million exploration obligation, which were part of the 2023 joint venture agreement with Osisko.
The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions.
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