INVESTORS AND MEDIA 
In the news
The Globe and Mail reports in its Saturday edition that Yamana Gold's founder says there is zero chance the Canadian gold and silver miner will agree to a lower takeover offer from Gold Fields Ltd., after several large shareholders criticized the South African miner for offering too much. The Globe's Niall McGee quotes executive chairman Peter Marrone saying: "There is no scenario in which we would change the terms of the deal. Our board has unanimously recommended this transaction, and this is the transaction that we're backing."Johannesburg-based Gold Fields said in May that it intended to acquire Yamana for a 42-per-cent premium to its stock market value in a share swap worth $6.7-billion (U.S.). Gold Fields shares lost more than a fifth of their value the day the deal was announced and are down about a third in total since then, amid a broader sell-off in the gold mining sector. Redwheel denounced the deal after it was announced, saying Gold Fields had made a serious error and labelling it a risky and expensive transaction. The London-based institutional investment firm owns 19.9 million Gold Fields shares, making it the second-biggest shareholder. Yamana's shares are trading well below the offering price.
