Northern Star shares pop as Australian gold miner rejects $27 billion takeover proposal
Northern Star shares jumped more than 9% after the Australian gold miner rejected a takeover proposal from Gold Fields.
TL;DR
- Northern Star Resources' shares increased by over 9% on Monday.
- The company rejected a $27 billion takeover proposal from Gold Fields.
- Northern Star's board unanimously decided the offer undervalued the company.
- The proposal involved a combination of Gold Fields shares and cash.
- The miner considered the offer highly opportunistic and subject to conditions.
- Northern Star informed Gold Fields that it would not engage further on the proposal.