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Australian gold miner Northern Star Resources rejected a roughly $27 billion takeover proposal from rival Gold Fields, saying the offer undervalued the company. Shares of Northern Star jumped more than 9% on the news as investors weighed the prospects of a higher bid or continued independence. The rejection comes amid a wave of consolidation in the gold-mining sector as bullion prices remain elevated, making miners attractive acquisition targets. Analysts expect Gold Fields could return with a sweetened offer, though Northern Star's board has signaled it sees greater value in standalone growth.