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Brunswick Group is handling South Africa’s Gold Fields Ltd. as it inks a $6.7B agreement to acquire Canada’s Yanama Gold Inc. to create the world’s No. 4 gold mining company.
The offer of 0.6 Gold Field shares for each share of Yamana stock represents a 33.8 percent premium to the 10-day trading average.
Chris Griffith, CEO of Gold Fields, says the transaction will unite two companies with complementary portfolios, cultures and strategic priorities. “The result is a combination with much greater capacity and potential value than the sum of its parts,” he said.
Newmont, Barrick and Agnico are the top three gold mining companies. AngloGold Ashanti drops to the No. 5 slot following completion of the Gold Fields/Yamana deal.
Gold Fields has mines in South Africa, Ghana, Peru, Chile and Australia. Yamana’s holdings are in Canada. Yamana’s operations are in Canada and Chile.
Brunswick has Timothy Schultz (Johannesburg); Pip Green, Nick Bias and Tom Pigott (London); and Emily Levin and Nikki Ritchie (Washington) handling media for Gold Fields.
Yamana relies on FTI Consulting’s Sara Powell and Ben Brewerton (London) for its PR work.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
Haggie Partners is working the $7B takeover of the specialty insurer Convex by Canada’s Onex private equity fund and American International Group.
WPP reported Q3 revenues less pass-through costs tumbled 5.9 percent to $3.3B, a performance new CEO Cindy Rose called “unacceptable.”
