🔴 Gold Fields is trading 11.88% down amid Northern Star’s rejection of its takeover bid

Gold Fields is trading at ZAc 57,939.00, down 11.88%, amid Northern Star’s rejection of Gold Fields’ unsolicited takeover proposal.

• On September 28, Northern Star rejected the A$38.7 billion proposal, saying it undervalued the company.
• The proposed share-and-cash offer’s implied value fell from A$27.00 to A$25.19 per Northern Star share as Gold Fields’ share price declined.
• Reports do not explicitly attribute Gold Fields’ decline to the rejection.