On May 31 2022, Ontario's Yamana Gold agreed to be acquired by South African mining firm Gold Fields for approximately $8.5 billion. This deal is aimed at consolidating the assets of both companies, thereby elevating Gold Fields to a major position in the global gold mining industry.

Yamana's legal representation was handled by their in-house counsel team, including Sofia Tsakos, Kathleen Caughey, and Andrea Moens. They also engaged Cassels Brock & Blackwell as their external counsel. Financial advice was provided by Canaccord Genuity Corp., Stifel GMP, and Scotiabank. Cassels’ team featured Mark Bennett, Jamie Litchen, Andrea FitzGerald, and several other experts.

Gold Fields chose Fasken Martineau DuMoulin LLP, Linklaters LLP, and Webber Wentzel for legal advice, with Merrill Lynch South Africa Ltd. as their sole financial advisor.

Chris Griffith, CEO of Gold Fields, emphasized the transaction's potential to create a top-4 global gold major, thanks to Yamana’s high-quality assets in the Americas and its development and exploration pipeline. He noted the shared focus of both companies on operational delivery, disciplined capital allocation, portfolio management, and sustainability.

Peter Marrone, Yamana Gold's Executive Chairman, highlighted the transaction's immediate and significant premium for shareholders and the opportunity it presents in forming a new global gold producer.

The transaction is expected to conclude in the second half of 2022.