Australia's Gold Road jumps on $2.4 billion buyout deal with S.Africa's Gold Fields

Gold Road Resources

05/05/2025 01:51

** Shares of Gold Road Resources GOR.AX rise as much as 11.8% to A$3.32, their highest since April 22

** South Africa's Gold Fields GFIJ.J to acquire co in a deal valuing the Australian miner's equity at A$3.7 billion ($2.39 billion)

** Says deal value equates to A$3.40 per share, based on the fixed and the variable component of the consideration, representing a 14.5% premium to GOR's last closing price

** Stock top gainer on ASX 200 benchmark index .AXJO

** As of last close, stock up 44.88% YTD

(Reporting by Himanshi Akhand in Bengaluru)

((Himanshi.Akhand@thomsonreuters.com;))