MELBOURNE, April 11 (Reuters) – Newmont Corp (NEM.N) laid down a best and final offer for Australia’s Newcrest Mining Ltd (NCM.AX) on Tuesday at A$29.4 billion ($19.5 billion) to close a deal that would extend Newmont’s lead as the world’s biggest gold producer.
If successful, the deal would lift Newmont’s gold output to nearly double its nearest rival Barrick Gold Corp (ABX.TO). 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.
Newcrest said on Tuesday it had given U.S.-based Newmont access to its books following the sweetened all-share bid that has received some support from shareholders.
“I think this offer strikes a better balance. We are positively disposed to the Newcrest-Newmont merger and would intend to remain a shareholder of the combined entity were a transaction to proceed,” said Simon Mawhinney, chief investment officer at Newcrest’s top shareholder Allan Gray Australia.
For the rest of this article: https://www.reuters.com/markets/commodities/australias-newcrest-gets-sweetened-offer-newmont-2023-04-10/