Update: Gold Fields' $27 Billion Takeover Bid for Northern Star Resources Rejected

05:18 AM EDT, 09/28/2026 (MT Newswires) -- (Updates with information on the stock movement in the last paragraph.) Gold Fields' (GFI) unsolicited 38.7 billion Australian dollar ($27.2 billion) takeover proposal for Northern Star Resources was rejected, the Australian gold producer said Monday, citing concerns over valuation and equity consideration. Under the proposal, Northern Star shareholders would have received 0.3125 new Gold Fields shares and AU$7.25 in cash for each Northern Star share, the miner said. Northern Star said that when it received the offer from Gold Fields on Sept. 14, the proposal implied a value of AU$27 per share. However, based on Gold Fields' closing share price on Sept. 25, the implied valued had fallen to AU$25.19, representing a 14% premium to Northern Star's last closing price. South Africa's Gold Fields, in a response on Monday, said it remains "open to constructive dialogue" and continues to seek engagement with Northern Star. Shares of Gold Fields were down more than 16% in Monday's premarket activity.