Gold Fields запустила очаровательную кампанию в Австралии, чтобы завоевать акционеров Northern Star для своего предложения о поглощении на A$39bn ($27bn). Генеральный директор Mike Fraser посетил Перт, Сидней и Мельбурн, чтобы встретиться с инвесторами и продвинуть преимущества создания глобального золотого «гиганта» примерно на $56bn. Он сказал, что акционеры, которых он встретил, открыты для комбинации, которая создаст второго по величине золотодобытчика в мире. Fraser noted that the board of Northern Star rejected the offer last month as undervaluing its growth potential, but argued the deal would unlock significant synergies. Gold Fields has been courting Northern Star for a year, though management had previously resisted engagement.
Activist investor Elliott Management has taken a stake in Northern Star and is pushing for talks with Gold Fields, saying it will evaluate any proposal on its merits. Northern Star’s new CEO, Suresh Vadnagra, formerly of Glencore, is set to give his first leadership comments next week upon quarterly results. Chair Michael Chaney said the board remains focused on shareholder value and would only engage with proposals offering value above Northern Star’s standalone potential.
Fraser cited risks in Northern Star’s growth pipeline, including the Hemi project in Western Australia’s Pilbara region. Northern Star shares closed at A$24.91 on Wednesday, below the A$27 implied value of the rejected offer. Gold Fields expects $5bn in synergies from the proximity of mines in Kalgoorlie, making it hard for rivals to replicate the value.
Fraser described the process as 'early days' despite the prolonged courtship.
Источник: Financial Times Companies · Сводку подготовил HeadlinesBriefing