Yamana Gold (AUY) Stock Gains 15% on Gold Fields Acquisition Shares of Yamana Gold (NYSE: AUY ) are up about 15% on news that the Canadian mining company is being acquired by South Africa’s Gold Fields (NYSE: GFI ) in an all-stock deal worth $6.7 billion that will create the world’s fourth largest gold producer. Gold Fields said it will own about 61% of the combined company once the deal is closed, while Yamana Gold shareholders will own 39%. Yamana currently operates gold mines in Canada, Argentina, Chile, and Brazil, and Gold Fields said the acquisition fits its “strategy of expanding in the Americas.” Prior to today’s move higher, shares of Yamana Gold had risen 33% year-to-date to $5.61 as commodity prices have risen and gold price firmed up in recent months. Gold Fields’ stock is down over 20% today on news of the acquisition, erasing all of its gains for the current year. What Happened In a news release , Gold Fields said that it is offering a sixth of one of its shares for each Yamana Gold share. The deal represents a 34% premium to Yamana stock’s closing price last Friday (May 27).