Iamgold waits as Gold Fields drama plays out

Nov 15, 2004 | 09:27 AM | Julie Bresnick

As Harmony Gold Mining Co. Ltd. fights for control of fellow South African miner Gold Fields Ltd., Iamgold Corp. waits in the wings.

Toronto-based Iamgold is confident its shareholders will approve a plan to merge with Johannesburg-based Gold Fields--if they ever get a chance to vote.

Shareholders of Gauteng-based Harmony voted decisively Friday to authorize the company's plan to acquire Gold Fields.

"Of all the steps that need to take place, this was the easiest for Harmony," said Tom Atkins, Iamgold's vice president of investor relations. Atkins added that Harmony's stockholders owned Harmony because they liked the company and trusted the management. "The most critical question is whether Gold Fields' shareholders want to own Harmony paper," he said.....

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