** Gold Road Resources GOR.AX said on Monday it had rejected Gold Fields' GFIJ.J $2.1 billion buyout bid because it believed the offer materially undervalued the co and was "highly opportunistic"
** Jefferies says announcement indicates deterioration of relationship to the point where grievances are now being aired publicly
** Deal values GOR at A$2.27 per share, which is a 9% premium to brokerage's like-for-like NPV
** However, Jefferies questions premium adequacy, suggesting it doesn't reflect control value or potential mining consolidation synergies
** 5 of 11 analysts rate the stock "buy" or higher, 5 as "hold" and 1 as "sell"; their mean PT is A$2.67 — LSEG data
** Stock up 19.5% YTD
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk))
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