Gold Fields plans Toronto listing after Yamana deal

Gold Fields on Monday promised higher dividends and a Toronto Stock Exchange listing to sweeten its proposed takeover of Canada’s Yamana Gold. The miner announced plans to acquire Yamana in an all-share deal valuing the Canada-listed miner at $6.7 billion on May 31, but market reaction was largely negative and Gold Fields shares plunged 20% on the day.

“It’s really to give comfort to shareholders that there is going to be cash returned to shareholders. It’s sending a message about our confidence in the deal,” Griffith said. He added that consolidation in the gold industry is just beginning and now is the time to snap up Yamana for its quality assets.

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