Australian gold miner Newcrest Mining Ltd said on Monday it would back Newmont Corp's A$26.2 billion ($17.8 billion) takeover offer in one of the world's largest buyouts so far this year.
A small toy figure and imitation gold are seen in front of the Newcrest logo in this illustration taken November 19, 2021. REUTERS/Dado Ruvic/IllustrationMay 15 - Australian gold miner Newcrest Mining Ltd said on Monday it would back Newmont Corp'sIf the deal gets Newcrest shareholders' approval and other regulatory approvals, it would lift Newmont's gold output to nearly double its nearest rival, Barrick Gold CorpUnder the deal, Newcrest shareholders would receive 0.
Newmont is also offering a franked special dividend of up to $1.10 per share on the implementation of the deal. "This transaction will combine two of the world's leading gold producers, bringing forward significant value to Newcrest shareholders through the recognition of our outstanding growth pipeline," said Newcrest Chairman Peter Tomsett.
The Denver-based miner in a statement said it would have combined annual copper production of approximately 350 million pounds from Australia and Canada.
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