Gold Road Resources chief executive Duncan Gibbs says a $3.3 billion takeover bid from Gold Fields is too low, describing the proposal from the Johannesburg-listed miner as extremely aggressive and hostile.
The South African group lobbed the bid on Monday in the midst of a frenzy of transactions in the gold sector. Separately, the largest ASX-listed gold producer, Northern Star, had made a $5 billion takeover offer for De Grey Mining, in which Gold Road owns a 17.3 per cent stake.
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