CAPITAL MARKETS

Harmony running out of time

HARMONY Gold’s controversial $US5.5 billion takeover bid for Gold Fields appears to be all but dead in the water after the two South African goldmining giants learned that the battle would spend the next two-to-three months stalled in a legal process.

Tim Treadgold
Harmony running out of time

The delay, caused by South Africa’s competition tribunal demanding a full preliminary hearing into the takeover, rather than a final three-day hearing, means that it will not hand down its decision until...

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