https://www.miningweekly.com
Gold|Mining
Gold|Mining
gold|mining

Newcrest extends Newmont deadline

Image shows the Newcrest logo

Photo by Bloomberg

12th May 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Australian gold major Newcrest Mining has extended its exclusivity period with US gold major Newmont Corporation until 18 May to give the suitor further time to complete its due diligence and submit a binding offer.

The two companies in April entered into an exclusivity deed after Newmont revised its non-binding indicative offer to 0.4 of its own shares for each Newcrest share held. This was an increase on the 0.38 Newmont shares for every Newcrest share offer made in February this year.

In addition, the revised proposal permits Newcrest to pay a franked special dividend of up to $1.10 a share on or around the implementation of the scheme arrangement.

The offer valued Newcrest shares at A$32.87 a share, a 46.4% premium to the company’s last closing price of A$22.45 a share on February 3 and valued the company at A$32-billion.

The revised proposal is subject to a number of conditions, including the completion of the due diligence studies, entry into a binding scheme implementation agreement, and the unanimous recommendation from the Newcrest board that shareholders vote in favour of the revised proposal, in the absence of a superior offer.

Edited by Creamer Media Reporter

Comments

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones, wear-resistant linings,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 29 September 2023
Magazine round up | 29 September 2023
29th September 2023

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.065 0.099s - 91pq - 2rq
Subscribe Now