Newcrest Mining Ltd. received an indicative takeover proposal from Newmont Corp., Australia’s biggest gold miner said Monday in a regulatory filing.
(Bloomberg) — Newcrest Mining Ltd. received an indicative takeover proposal from Newmont Corp., Australia’s biggest gold miner said Monday in a regulatory filing.
The board is considering the proposal, under which shareholders would receive 0.380 Newmont share for each Newcrest share held.
Newcrest has engaged JP Morgan Chase & Co. and Gresham Advisory Partners Ltd. as its financial advisers and Herbert Smith Freehills as its legal adviser.
Newcrest shares have gained 8.8% this year, taking the Melbourne-based company’s market capitalization to A$20 billion ($13.8 billion).
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