{"id":908157,"date":"2026-09-28T04:42:15","date_gmt":"2026-09-28T04:42:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/908157\/"},"modified":"2026-09-28T04:42:15","modified_gmt":"2026-09-28T04:42:15","slug":"northern-star-mining-giant-rejects-38-billion-takeover-offer-from-gold-fields","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/908157\/","title":{"rendered":"Northern Star: Mining giant rejects $38 billion takeover offer from Gold Fields"},"content":{"rendered":"

Australia\u2019s largest listed gold miner confirmed on Monday it has rejected an unsolicited takeover bid from South Africa\u2019s Gold Fields that valued the company at $38.7 billion.<\/p>\n

In a statement to the ASX, Perth-based mining giant Northern Star Resources described the takeover approach as \u201chighly opportunistic\u201d. <\/p>\n

\"\"<\/p>\n

Australia\u2019s biggest gold miner, Northern Star, on Monday rejected a takeover offer by South Africa\u2019s Gold Fields .\u00a0AP<\/p>\n

The offer indicated a value of $27 per Northern Star share, representing a 22 per cent premium to the stock\u2019s last close before the proposal was received on September 14.<\/p>\n

If the agreement went ahead, Northern Star said its shareholders would have been left significantly exposed to Gold Fields stock, which it said carried a higher risk profile.<\/p>\n

Chairman Michael Chaney said Northern Star was one of the \u201cworld\u2019s premier gold portfolios\u201d, and the price offered by Gold Fields was way below what the board believed was its fundamental value and came at a \u201chighly opportunistic time\u201d.<\/p>\n

\u201cGold Fields has asked our shareholders to take nearly three-quarters of the consideration in Gold Fields stock, which carries a meaningfully higher jurisdictional risk profile than the exposure they hold today,\u201d he said.<\/p>\n

\u201cThese factors, in conjunction with the conditionality of the indicative proposal, are the basis on which the board has unanimously rejected\u201d the offer, he said.<\/p>\n

Northern Star shares jumped 9 per cent on Monday after news it had rejected the Gold Fields\u2019 offer.<\/p>\n

In July, Northern Star appointed new managing director Suresh Vadnagra following pressure on the board from activist investor Elliott Investment Management for a strategic shake-up.<\/p>\n

\u2013 with Reuters<\/p>\n","protected":false},"excerpt":{"rendered":"Australia\u2019s largest listed gold miner confirmed on Monday it has rejected an unsolicited takeover bid from South Africa\u2019s…\n","protected":false},"author":2,"featured_media":908158,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[64,63,99],"class_list":["post-908157","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-au","tag-australia","tag-business"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/908157","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=908157"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/908157\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/908158"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=908157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=908157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=908157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}