Gold Road Resources (ASX:GOR) signed a scheme implementation deed with Gold Fields subsidiary Gruyere to acquire 100% of Gold Road's issued and outstanding share capital through a scheme of arrangement, according to a Monday filing with the Australian bourse.
Company shareholders will receive a fixed cash consideration of AU$2.52 per share and a variable cash consideration equal to the full value of each shareholder's proportionate holding in Northern Star Resources (ASX:NST), calculated by the date the scheme becomes effective, the filing said.
Gold Fields said the proposed consideration under the scheme is the "best and final" price and will not be increased further unless a superior proposal emerges, per the filing.
Gold Road Resources' shares rose past 9% in morning trade Monday, while Northern Star Resources' shares shed about 1%.
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