Gold Fields, Silver Standard withdraw $1.4bn joint bid for Kirkland Lake

South Africa-based gold major Gold Fields has withdrawn from its joint offer with Silver Standard Resources to buy Kirkland Lake Gold after the Canadian miner rejected the bid last week. However, the Johannesburg-based company said in a statement Friday that it remained interested in a negotiated board-supported transaction, despite Kirkland moving ahead with plans to take over Australian firm Newmarket Gold in a transaction estimated at C$1-billion.