Gold Fields Carps Harmony

SA gold producer Gold Fields again challenged its rival Harmony Gold?s hostile merger bid, claiming the transaction should have become null on December 18.

Gold Fields? contention was addressed to Richard Connellan, CEO of the Securities Regulation Panel (SRP), and faxed on March 7. By this new challenge, Gold Fields intends to smother Harmony?s proposal in yet more red tape.

Further submissions on the matter are likely on Wednesday (16 March) when Gold Fields appeals the SRP?s decision to grant Harmony an extension to its offer for Gold Fields to May 20.

The current offer is due to expire on March 18.