{"id":8699,"date":"2023-05-14T22:47:07","date_gmt":"2023-05-15T02:47:07","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/australias-newcrest-mining-agrees-to-17-5-billion-takeover-by-newmont\/"},"modified":"2023-05-14T22:47:07","modified_gmt":"2023-05-15T02:47:07","slug":"australias-newcrest-mining-agrees-to-17-5-billion-takeover-by-newmont","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=8699","title":{"rendered":"Australia\u2019s Newcrest Mining agrees to $17.5 billion takeover by Newmont"},"content":{"rendered":"
\n

SYDNEY \u2014 Newcrest Mining
\n NCM,
\n +1.31%<\/bg-quote>
\n said it has agreed to a $17.5 billion takeover by Newmont
\n NEM,
\n +0.13%<\/bg-quote>,<\/span>
\n extending a wave of deals in the sector as global miners seek to boost their exposure to metals like copper and gold.<\/p>\n

Newcrest said on Monday that it recommends shareholders vote in favor of Newmont\u2019s offer, which comprises 0.400 of its own shares for each Newcrest share. In addition, Newcrest is permitted to pay a special dividend of up to $1.10 a share around the time any deal completes.<\/p>\n

\n

Those terms were in line with a revised offer pitched by Newmont that was announced to the market by Newcrest on April 11. However, the price of Newcrest\u2019s stock implied by the transaction has fallen over the past month.<\/p>\n

Newcrest said on Monday that the deal implies a price for its own stock of 29.27 Australian dollars (US$19.53), representing a 30.4% premium to where its shares were trading in early February prior to Newmont\u2019s interest becoming known.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

SYDNEY \u2014 Newcrest Mining NCM, +1.31% said it has agreed to a $17.5 billion takeover by Newmont NEM, +0.13%, extending a wave of deals in the sector as global miners seek to boost their exposure to metals like copper and gold. Newcrest said on Monday that it recommends shareholders vote in favor of Newmont\u2019s offer, […]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-8699","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nAustralia\u2019s Newcrest Mining agrees to $17.5 billion takeover by Newmont | iFintechWorld<\/title>\n<meta name=\"description\" content=\"SYDNEY \u2014 Newcrest Mining NCM, +1.31% said it has agreed to a $17.5 billion takeover by Newmont NEM, +0.13%, extending a wave of deals in the sector as\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=8699\" \/>\n<meta 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