Northern Star Resources, described as Australia's biggest gold miner, has rejected a takeover proposal from Gold Fields valued at $27 billion, according to multiple outlets.
Bloomberg reported that Northern Star called the proposal "opportunistic" in rejecting it. Reuters, citing Bloomberg's reporting, said Gold Fields had expressed interest in buying Northern Star.
Following news of the rejected bid, Northern Star shares jumped more than 9%, according to CNBC.
The Wall Street Journal and the Financial Times both confirmed the $27 billion figure and the rejection, with the Financial Times noting Northern Star's status as Australia's largest gold miner.
How each side covered it
Left
- Bloomberg reported that Northern Star rejected the proposal, calling it "opportunistic."
“Northern Star Rejects 'Opportunistic' Proposal From Gold Fields” — Bloomberg
Center
- The Wall Street Journal and Financial Times reported the $27 billion takeover proposal was rejected by Northern Star.
- CNBC reported Northern Star shares rose more than 9% following the rejection.
- Reuters, citing Bloomberg, reported Gold Fields had expressed interest in buying Northern Star.
- Financial Times identified Northern Star as Australia's biggest gold miner.
“Northern Star Rejects $27 Billion Takeover Proposal From Gold Fields” — The Wall Street Journal
Questions readers ask
What happened between Northern Star and Gold Fields?
Northern Star Resources, Australia's biggest gold miner, rejected a $27 billion takeover proposal from Gold Fields, according to multiple outlets including the Wall Street Journal, the Financial Times and Bloomberg.
Why did Northern Star reject the offer?
According to Bloomberg, Northern Star called the proposal "opportunistic" in rejecting it, though the sources do not detail further reasoning.
How did markets react to the rejection?
Northern Star shares jumped more than 9% after news of the rejected takeover proposal, according to CNBC.
How big was the proposed deal?
Gold Fields' takeover proposal for Northern Star was valued at $27 billion, according to the Wall Street Journal and the Financial Times.
Sources · 5 outlet reports
- BloombergLeft-leaningGold Fields Is Said to Express Interest in Buying Northern Star
- CNBCCenterNorthern Star shares pop as Australian gold miner rejects $27-billion takeover proposal
- Financial TimesCenterAustralia’s biggest gold miner rejects $27bn takeover bid
- ReutersCenterGold Fields expresses interest in buying Northern Star, Bloomberg reports
- The Wall Street JournalCenterNorthern Star Rejects $27 Billion Takeover Proposal From Gold Fields