- Gold Fields Ltd ( NYSE: GFI ) said it won't raise its bid for Yamana Gold ( NYSE: AUY ) after Pan American Silver ( NASDAQ: PAAS ) and Agnico Eagle Mines ( NYSE: AEM ) submitted a rival offer that was considered superior.
- “The Board was unanimous in its decision not to offer to change the terms of the transaction as we continue to believe our transaction is strategically and financially superior," Gold Fields CEO Chris Griffith said in a statement earlier Monday.
- Yamana's ( AUY ) board said Friday the new buyout bid is a " superior proposal " to the company's previous agreement with Gold Fields Ltd. ( GFI ).
- Recall late last month a major investor came out agains t Gold Fields takeover of Yamana.
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Gold Fields says it won't increase Yamana offer after rival bid