Gold Fields aims to woo Northern Star investors after miner's rebuff

Gold Fields CEO Mike Fraser said the company is ready to “woo” Northern Star Resources investors again after the Australian miner rejected a $27 billion takeover offer. Northern Star turned down an unsolicited A$38.7 billion ($27.1 billion) bid in shares and cash aimed at creating the world’s second-biggest gold producer. Fraser said Gold Fields would be disciplined, and investors expect a higher offer after an Australian road show in late October—most likely with more cash to avoid share dilution. The process is still undecided. Analysts note Northern Star is due to ramp up output at Kalgoorlie, which could widen valuation gaps.