Newmont Offers To Acquire Gold Producer Newcrest Mining

Newmont Corporation NEM has submitted a non-binding proposal to acquire 100% of the issued share capital of Newcrest Mining Limited.
Newmont’s proposal to combine with Newcrest is on the basis of 0.380 Newmont shares per Newcrest share, which would result in the combined company being 30% owned by Newcrest and 70% owned by Newmont.
"The proposed transaction would join industry-leading portfolios of assets and projects to create long-term value across the combined global business, and we welcome the consideration of Newcrest’s Board of Directors,” said Tom Palmer, CEO of Newmont.
Newmont has engaged BofA Securities, Centerview Partners LLC and Lazard as its financial advisers, and King & Wood Mallesons and White & Case LLP as its legal advisers.
Newmont held $3.1 billion in cash and equivalents as of September 2022.
Price Action: NEM shares are trading lower by 6.32% at $46.70 in premarket on the last check Monday.