The board of directors for Australia’s Newcrest Mining Ltd. (TSX,ASX:NCM) have approved a $23.5 billion takeover bid that, if approved by regulators and shareholders, will add two sa国际传媒 mines to the Newmont Corp. (NYSE:NEW) stable.
Newmont, the world’s largest gold mining company, has offered Newcrest, an Australian company, AUS$26.2 billion (US$17.4 billion, CAN$23.5 billion) for 100 per cent of Newcrest’s shares.
The deal must still be approved by shareholders and various regulators, including Australia’s Foreign Investment Review Board and the Canadian Competition Bureau.
Under the terms of the deal, Newcrest shareholders will receive 0.400 Newmont shares for each Newcrest share. Newmont has a market capitalization of $51 billion; Newcrest’s market cap is $23.4 billion
Newmont became the world’s largest gold mining company in 2019, after it acquired Vancouver's Goldcorp. for $10 billion.
Newmont’s acquisition of Newcrest will give Newmont two sa国际传媒 mines – the Brucejack gold mine and the Red Chris copper-gold mine.
In 2019, Newcrest acquired 70 per cent of the Red Chris copper-gold mine from Imperial Metals (TSX:III) for $1.1 billion, and in 2021, Newcrest acquired the Brucejack gold mine from Pretium Resources for $3.5 billion.
