Australia's Northern Star Resources rises after rejecting $27 billion buyout offer

Northern Star Resources

28/09/2026 01:30

** Shares of Australia's Northern Star Resources NST.AX rise as much as 10.6% to A$24.46, posting their biggest intraday pct gain since July 3 
** Stock hits highest level since Aug 28 
** Gold producer says it rejected takeover proposal from South Africa's Gold Fields GFIJ.J that valued the gold miner at A$38.7 billion ($27.12 billion)
** Under deal, NST shareholders would have received 0.3125 new Gold Fields shares and A$7.25 in cash for each NST share.
** Based on Gold Fields' closing share price on Friday, proposal implies a reduced consideration price of A$25.19/share in the Australian miner, NST says, representing only a 14% premium
** Gold sub-index .AXGD up 1.7%, with NST leading gains
** YTD, NST down 10%, while AXGD up 1%
($1 = 1.4269 Australian dollars)

 (Reporting by Aamir Sheik Khalid in Bengaluru)
 ((Aamir.SheikKhalid@thomsonreuters.com))