CAPITAL MARKETS

Gold Fields deals with Iamgold

The waiting game has paid off for midsize Canadian miner Iamgold, with South African major Gold Fields emerging as the hoped for white knight to fend off a hostile bid from fellow Canadian Golden Star Resources. Under a proposed share swap – or reverse takeover – Gold Fields will combine its international assets with Iamgold to become the seventh largest gold producer worldwide and the fourth largest Canadian gold producer.