🔴 Gold Fields is trading 12% down after Northern Star rejected its takeover offer

Gold Fields is trading 12.03% down at ZAc 57,840 after Northern Star rejected its unsolicited A$38.7 billion takeover proposal, calling it materially undervalued.

• Reuters linked shares’ roughly 13% decline by 1203 GMT on September 28 to the rejection.
• The bid’s value fell with Gold Fields’ share price, yet remained a 14% premium to Northern Star’s last close.
• The move was company-specific; broad market weakness and sector pressure were secondary. No volume data was provided.