- Gold Fields ( NYSE: GFI ) ended its deal to acquire Yamana Gold ( NYSE: AUY ) after Pan American Silver ( PAAS ) and Agnico Eagle Mines ( AEM ) agreed to purchase the gold producer. Gold Fields rose 13%.
- Yamana ( AUY ) is required to pay Gold Fields ( GFI ) a termination fee of $300 million, according to a statement.
- On Monday Gold Fields Ltd ( GFI ) said it wouldn't raise its bid for Yamana Gold ( AUY ) after Pan American Silver ( PAAS ) and Agnico Eagle Mines ( AEM ) submitted a rival offer that was considered superior.
- 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 ).
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Gold Fields terminates agreement with Yamana Gold following rival deal