Market movers: Stocks seeing action on Monday

) for $2.16-billion, barely two years after the Johannesburg-based gold producer’s attempt to buy another Canadian miner was scuppered by a rival offer.

Gold Fields’ $6.7-billion all-share offer to buy Yamana Gold in 2022 failed after the Canadian miner backed a $4.8-billion cash and share bid from Agnico Eagle and Pan American Silver Corp. Osisko, which has recommended the deal to its shareholders, said Gold Fields was well suited to take the Windfall project into production.

The deal will be funded from Gold Fields’ cash, and un-drawn bank facilities with additional financing from a group of lenders. The Toronto-based company reaffirmed its annual gold production outlook of 3.9 million ounces to 4.3 million ounces. This compares to analysts expectations of 4 million ounces of gold in 2024.

The company is already facing one activist investor with Elliott Investment Management currently engaging in discussions with the company, sources have said. Elliott often negotiates with companies and ends up putting representatives on the board. KeyCorp shares jumped as Scotiabank priced the offer at US$17.17 per share, a nearly 17.5-per-cent premium to KeyCorp’s last closing stock price. It will also be able to appoint two directors to KeyCorp’s board.

KeyCorp said it would also look to reposition its available-for-sale securities portfolio to speed up its push for profitability, liquidity and capital improvements.

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