representative work

Gold Fields Announces US$6.7 Billion Acquisition of Yamana Gold


On May 31, 2022, Yamana Gold Inc. and Gold Fields Limited announced that they entered into a definitive agreement under which Gold Fields has agreed to acquire all of the outstanding common shares of Yamana pursuant to a plan of arrangement.

Under the arrangement, each Yamana share will be exchanged for either 0.6 of an ordinary share of Gold Fields or 0.6 of a Gold Fields American depositary share, resulting in an implied valuation of Yamana of US$6.7 billion and representing a premium of 33.8% based on Yamana’s and Gold Field’s 10 day volume weighted average share prices on the New York Stock Exchange as of May 27, 2022, being the last trading day on the NYSE prior to the announcement of the transaction.

The agreement with Gold Fields was terminated on November 8, 2013 upon Yamana entering into an alternative transaction with Pan American Silver Corp. and Agnico Eagle Mines Limited.

 Cassels is acting as external counsel to Yamana.