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38

Gold Miner Contests Bid Extention

South African gold miner Gold Fields last night vowed to contest Harmony's bid extention

South African gold miner Gold Fields last night vowed to contest a decision by the Securities Regulation Panel to extend Harmony's hostile takeover bid to May 20.
The current offer was expected to end on March 18.

Harmony CE Bernard Swanepoel said yesterday that although he was frustrated by the time the competition authorities had taken to give their opinion on the bid "our offer to Gold Fields shareholders continues on the terms announced".

Swanepoel also said he would meet next week Russia's Norilsk Nickel, which owns 20% of Gold Fields.