Gold Fields' legal fire targets Harmony bid

Oct 28, 2004 | 11:29 AM |

South African miner Gold Fields Ltd. has taken legal steps to fend off the unwanted advances of its smaller rival, Harmony Gold Mining Co. Ltd.

The world's fourth-largest gold producer has lodged an "interdict" in the Johannesburg High Court, alleging that the Harmony takeover offer is "null and void" and is in breach of the criminal provision of the South African Companies Act, a Gold Fields spokesman said.

"The papers have just been served from the Johannesburg High Court," he said.

Harmony, owned by mining magnate Patrice Motsepe, launched an $8.1-billion hostile takeover bid for Johannesburg-based Gold Fields on Oct. 18 that, if successful, would create the world's largest gold producer with annual output of 7.5 million ounces (AMM, Oct. 19).....

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