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May 5, 2025Gold Fields in talks to acquire Australian Miner Gold Road Resources Ltd
Gold Fields Ltd entered into talks to acquire Gold Road Resources Ltd., hours after the Australian company’s shares were suspended from trading in Sydney.
In March, Johannesburg-based Gold Fields announced that Gold Road had rejected a non-binding acquisition proposal. At that time, Gold Road said the takeover approach, valuing the Perth-based miner at A$3.3 billion ($2.1 billion), was extremely disappointing and undervalued the company. Gold Road’s shares have since climbed more than 20%.
Gold Fields, which co-owns the Gruyere mine in Western Australia with Gold Road, said on Friday that it’s in active discussions with Gold Road. There was no certainty that a deal would be concluded, it added. Gold Fields’ shares fell as much as 6.4%.
Earlier on Friday, Gold Road asked for its shares to be suspended, citing ‘media speculation regarding a potential change of control transaction.’ The suspension will be lifted when the market opens on May 6, unless the company announces otherwise by then.
