Australia's Northern Star Resources rises after rejecting $27 billion buyout offer

By Reuters News

** Shares of Australia's Northern Star Resources NST.AX rise as much as 10.6% to A$24.46, posting their biggest intraday pct gain since July 3

** Stock hits highest level since Aug 28

** Gold producer says it rejected takeover proposal from South Africa's Gold Fields GFIJ.J that valued the gold miner at A$38.7 billion ($27.12 billion)

** Under deal, NST shareholders would have received 0.3125 new Gold Fields shares and A$7.25 in cash for each NST share.

** Based on Gold Fields' closing share price on Friday, proposal implies a reduced consideration price of A$25.19/share in the Australian miner, NST says, representing only a 14% premium

** Gold sub-index .AXGD up 1.7%, with NST leading gains

** YTD, NST down 10%, while AXGD up 1%

($1 = 1.4269 Australian dollars)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.