All articles tagged with #newcrest
Newmont, the world's largest gold mining company, has acquired Australian rival Newcrest Mining for $19.2 billion in the industry's biggest deal to date. The purchase will allow Newmont to expand its global scope with mining operations across the Americas, Africa, Australia, and Papua New Guinea. The deal comes as gold prices surge due to the metal's appeal as a safe-haven asset in times of economic uncertainty.
Newmont has agreed to acquire Newcrest, an Australian gold and copper miner, for $17.5 billion, marking the largest ever gold-mining deal.
Australian mining company Newcrest has backed a $19bn bid by Newmont to create the world's largest gold miner. The deal would see Newmont acquire Canada's Goldcorp, with Newcrest taking a 70% stake in the Red Chris copper and gold mine in British Columbia. The acquisition would create a company with a market value of $32bn.
Newmont, the world's largest gold miner, has entered into a definitive agreement to acquire Newcrest, the eighth largest gold miner, in a deal that will see Newcrest shareholders receive 0.400 Newmont shares for each Newcrest share and a special dividend of up to $1.10 per share paid by Newcrest, representing a 30.4% premium. The transaction is still subject to shareholder approval. The acquisition is expected to create an industry-leading portfolio with a multi-decade gold and copper production profile in the world’s most favorable mining jurisdictions, and deliver an estimated $500 million in annual synergies and an estimated $2 billion in incremental cash flow from portfolio optimization opportunities.
Newmont has increased its bid for Australian mining company Newcrest to $19.5 billion, in an effort to acquire the company and expand its operations in Australia.
Newmont has made a final offer of AUD 29.4bn ($19.5bn) for Newcrest Mining, which would make Newmont the world's largest gold producer. The deal would be the third-largest ever involving an Australian company and the third-largest globally in 2023. Newcrest has given Newmont access to its books following the sweetened all-share bid that has received some support from shareholders. Under the revised offer, Newcrest shareholders would receive 0.400 Newmont share for each share held, with an implied value of AUD 32.87 a share, up from a previous exchange ratio of 0.380 that Newcrest's board unanimously rejected in February.