INVESTORS AND MEDIA 
In the news
The Globe and Mail reports in its Thursday edition that Chris Griffith, the chief executive officer of Gold Fields Ltd., is fielding questions from shareholders concerned that the South African gold major is overpaying for Yamana, but he remains determined to push ahead on the deal, insisting the price is fair. The Globe's Niall McGee writes that earlier this week, Johannesburg-based Gold Fields announced it intends to acquire Toronto's Yamana for $6.7-billion (U.S.) in an all-stock transaction that works out to a 42-per-cent premium over the Friday close on the New York Stock Exchange. That paper premium largely vanished as soon as the shares started trading on Tuesday, with Gold Fields' stock plummeting 23 per cent, and Yamana's share price only rising 3.7 per cent. Gold Fields investors fretted about the prospect of their shareholdings being diluted, the lack of cost savings associated with the deal, and the steep premium. Since the current round of consolidation in the gold industry began in the fall of 2018, with Barrick Gold's acquisition of Randgold Resources, low- or no-premium acquisitions have become the preferred deal-making currency. Yamana closed Wednesday at $7.03, up 23 cents in Toronto.
