Gold Fields Ltd. agreed to buy Canada’s Osisko Mining Inc. in a deal valued at $2.16 billion (US$1.6 billion), becoming the latest producer to seek to expand amid soaring prices for the precious metal.
Mine workers operate drilling machinery underground at the Gold Fields Ltd. South Deep gold mine in Westonaria, South Africa , on Wednesday, Oct. 12, 2022. -- Gold Fields Ltd. agreed to buy Canada’s Osisko Mining Inc. in a deal valued at $2.16 billion , becoming the latest producer to seek to expand amid soaring prices for the precious metal.
The Johannesburg-listed company will use cash to acquire all outstanding shares in the Canadian miner at a price of $4.90 each, Gold Fields said in a statement Monday. That represents a 66.7 per cent premium to Osisko’s closing price on Friday, according to Bloomberg’s calculations.
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