Gold Fields CEO Chris Griffith will need a great growth Plan B after its Yamana bid was torpedoed. But shareholders stand to reap a $300m consolation prize.
The failure of Gold Fields’s proposed takeover of Yamana Gold comes as a bitter blow for its CEO of 18 months, Chris Griffith.
The truth is, however, the walls were closing in ever since a joint cash and shares offer by Pan American Silver and Agnico-Eagle on November 4 trumped Gold Fields’s all-share bid of five months earlier. The question now is where Griffith goes from here...
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