AcquisitionOsisko Mining has agreed to be acquired by Gold Fields for $4.90 per share, representing a 55% premium to the 20-day volume-weighted average price, in an all-cash deal worth $2.16 billion.
Ownership And FinancingGold Fields will consolidate full ownership of the Windfall project and will not have to make the deferred payment, with the project being fully financed after a 50/50 joint venture agreement.
ValuationThe strong premium is above the 30-40% range generally seen for takeovers, a confirmation by Gold Fields of the value and scarcity of the Windfall asset.