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Highlights

Gold Road Resources Ltd (ASX: GOR) shares are experiencing a significant uptick today, following the release of a new acquisition proposal. The S&P/ASX 200 Index (ASX: XJO) gold stock entered an intraday trading halt on Friday, as speculation mounted around a potential change of control transaction. Upon the resumption of trading this morning, Gold Road shares surged 9.8%, reaching AUD3.26 per share.

The jump follows Gold Road’s announcement that it has entered into an agreement with Gruyere Holdings, a wholly owned subsidiary of South African gold mining giant Gold Fields Ltd (NYSE: GFI), to acquire 100% of the company. The acquisition would be carried out through a scheme of arrangement, and shareholders would receive $2.52 per share, subject to any special dividend declared before the scheme's implementation.

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