On Thursday, Shares of Gold Fields Limited (ADR) (NYSE:GFI), subtract -1.50% and shut at $3.28 inside the end purchasing and offering session. The last exchanging scope of the stock ranges amongst $3.20 and $3.44. Gold Fields Limited (Gold Fields) (JSE, NYSE: GFI) notes recent press reports regarding proposals made jointly by it and Silver Standard Resources Inc. (Silver Standard) (TSX: SRO, Nasdaq: SSRI) to acquire all of the outstanding shares of Kirkland Lake Gold Inc. (Kirkland Lake) (KLG.TO), in addition to Kirkland Lake’s 11 November 2016 news release acknowledging these reports.
In accordance with its ongoing disclosure obligations, Gold Fields confirms that its wholly-owned partner, Gold Fields Netherlands Services B.V., has made three successive non-binding proposals jointly with Silver Standard to Kirkland Lake to acquire all of the outstanding shares of Kirkland Lake following a negotiated plan of arrangement for consideration consisting of cash and shares of Silver Standard or a combination thereof. Its most recent proposal is valued at C$1.44 billion (US$1.07 billion) in aggregate.
Shares of Sanchez Production Partners LP (NYSEMKT:SPP), subtract -17.96% and shut at $10.85 inside the last exchanging session. The rest of the purchasing and offering scope of the stock levels among $10.80 and $11.35. The association’s commercial center capitalization is $41.82 million with the general uncommon loads of 4.43 million. Sanchez Production Partners LP (NYSE MKT:SPP) (“SPP” or the “Partnership”) recently declared the pricing of its formerly declared underwritten public offering of 6,550,802 common units representing limited partner interests in SPP at a public offering price of $11.00 per common unit and a separate, concurrent private placement of 2,272,727 common units to Sanchez Energy Corporation (SN) (“Sanchez Energy”) at a price of $11.00 per common unit. In addition, SPP has granted the underwriters of the offering a 30-day option to purchase up to an additional 982,620 common units at the public offering price. SPP intends to use the net proceeds received in connection with the offering, together with borrowings of about $28 million under the Partnership’s credit facility, as follows: (i) about $80 million to acquire a 50% equity interest in Carnero Processing, LLC (“Carnero Processing”) from Sanchez Energy; and (ii) about $24.9 million to pay the purchase price, after normal and customary adjustments, for certain wellbores and escalating working interests and other production assets that SPP intends to acquire from Sanchez Energy. The Partnership intends to use about $25 million from the private placement to repay borrowings outstanding under the Partnership’s credit facility (counting borrowings that may result from the Partnership’s letters of credit, if any). The offering and private placement are expected to close on Nov. 22, 2016, subject to customary closing conditions. The private placement is exempt from registration under the Securities Act of 1933 following Section 4(a)(2) thereof.