YRI:CC - Yamana chairman aims to convert Gold Fields skeptics despite high sale premium

Gold Fields (NYSE:GFI) shareholders who are skeptical of the company's $7B takeover offer for Yamana Gold (NYSE:AUY) will come around to the deal's benefits, Yamana Executive Chairman Peter Marrone told Bloomberg on Wednesday, calling the deal "two pieces of a puzzle that fit nicely together." Marrone said it is understandable that some shareholders in a company on the cusp of delivering growth to have reservations about the timing of the deal, which includes a relatively high premium by industry standards, but such questions will be answered as the two companies head into the next round of discussions. Yamana (AUY) and Gold Fields (GFI) share a focus on the bottom line rather than growth for growth's sake, Marrone said, adding that the merged company would immediately become the world's fourth largest gold producer. The current uncertain macroeconomic and geopolitical environment means there is even greater reason to seek scale and diversification

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Yamana chairman aims to convert Gold Fields skeptics despite high sale premium