{"id":1930905,"date":"2023-05-14T23:41:47","date_gmt":"2023-05-15T03:41:47","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/australias-newcrest-supports-newmonts-17-8-billion-offer\/"},"modified":"2023-05-14T23:46:53","modified_gmt":"2023-05-15T03:46:53","slug":"australias-newcrest-supports-newmonts-17-8-billion-offer","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/australias-newcrest-supports-newmonts-17-8-billion-offer\/","title":{"rendered":"Newcrest backs Newmont&#8217;s $17.8B bid."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">10<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Faustralias-newcrest-supports-newmonts-17-8-billion-offer%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1930905&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Newcrest Mining Backs Newmont Corp\u2019s $17.8 Billion Takeover Offer<\/h2>\n<h3>Australian gold miner Newcrest Mining Ltd has announced its support for Newmont Corp\u2019s A$26.2 billion ($17.8 billion) <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/read-elon-musks-pitch-to-twitter-exec-about-buyout-offer-exceeding-40-billion-dollars\/\" title=\"Read Elon Musk\u2019s Pitch To Twitter Exec About Buyout Offer Exceeding  Billion Dollars\">takeover offer<\/a>, which could become one of the world\u2019s largest buyouts this year.<\/h3>\n<p>If the deal is approved by Newcrest shareholders and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/merck-asks-fda-for-emergency-use-authorization-for-covid-19-pill-cuts-risk-of-death-or-hospitalization-by-approx-50\/\" title=\"Merck Asks FDA For \u2018Emergency Use Authorization\u2019 For COVID-19 Pill, Cuts \u2018Risk Of Death Or Hospitalization By Approx. 50%\u2019\">regulatory authorities<\/a>, it would increase Newmont\u2019s gold output to almost double that of its closest competitor, Barrick Gold Corp, further cementing Newmont\u2019s position as the world\u2019s largest gold producer.<\/p>\n<p>Under the terms of the deal, Newcrest shareholders would receive 0.400 Newmont share for each share held, with an implied value of A$29.27 a share, higher than a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/australias-newcrest-supports-newmonts-17-8-billion-offer\/\" title=\"Newcrest backs Newmont's .8B bid.\">previous exchange ratio<\/a> of 0.380 that Newcrest\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/virginia-school-board-unanimously-votes-against-states-new-transgender-policies-after-community-outrage\/\" title=\"Virginia School Board Unanimously Votes Against State\u2019s New Transgender Policies After Community Outrage\">board rejected<\/a> in February. Newmont is also offering a franked special dividend of up to $1.10 per share on the implementation of the deal.<\/p>\n<p>The merger is set to be the third-largest deal ever involving an Australian company and the third-largest globally in 2023, according to data from Refinitiv and Reuters calculations.<\/p>\n<p>\u201cThis transaction will combine two of the world\u2019s leading gold producers, bringing forward significant value to Newcrest shareholders through the recognition of our outstanding growth pipeline,\u201d said Newcrest Chairman Peter Tomsett.<\/p>\n<p>Newcrest shareholders will be able to choose to receive New York Stock Exchange-listed Newmont shares or Australian listed CHESS Depository Instruments (CDIs) as payment. Newcrest has recommended that its shareholders vote in favour of the deal at a meeting expected to be held in September or October.<\/p>\n<p>The deal requires Australia\u2019s Foreign Investment Review Board (FIRB) sign off as well as Newcrest and Newmont shareholders to vote in support the transaction among other regulatory approvals.<\/p>\n<p>($1 = 1.4743 Australian dollars)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Scott Murdoch and Himanshi Akhand (Reuters) \u2013 Australian gold miner Newcrest Mining Ltd said on Monday it would back Newmont Corp\u2019s A$26.2 billion ($17.8 billion) takeover offer in one of the world\u2019s largest buyouts so far this year. Advertisement If the deal gets Newcrest shareholders\u2019 approval and other regulatory approvals, it would lift Newmont\u2019s<\/p>\n","protected":false},"author":66,"featured_media":1930906,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[26765,7564,26763,26762],"class_list":["post-1930905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-17-8b","tag-bid","tag-newcrest","tag-newmonts"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1930905","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1930905"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1930905\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1930906"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1930905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1930905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1930905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}