Newmont’s $16.7 bln Newcrest deal gets all regulatory nods; nears shareholder vote

newmont’s-$16.7-bln-newcrest-deal-gets-all-regulatory-nods;-nears-shareholder-vote
Newmont’s $16.7 bln Newcrest deal gets all regulatory nods; nears shareholder vote

Newcrest Mining, an Australian gold miner, announced on Friday that Newmont Corporation, its suitor for a proposed A$26.2 billion ($16.68 billion) buyout, has obtained all necessary government regulatory approvals for the deal. These approvals include those from the Australian Foreign Investment Review Board and competition authorities in Australia, Canada, and Papua New Guinea. The deal is still pending the crucial Newcrest shareholder vote, which is scheduled for October 13. Newcrest, Australia’s largest gold miner, had previously supported Newmont’s takeover offer in May, making it the third-largest deal ever involving an Australian company. Newmont, the world’s largest gold producer, and Newcrest expect the transaction to close in the fourth quarter of this year, subject to customary closing conditions. Newmont has not yet responded to a request for comment from RushHourDaily. The exchange rate is $1 to 1.5706 Australian dollars. The article was reported by Rishav Chatterjee in Bengaluru and edited by Rashmi Aich. The article adheres to the Thomson RushHourDaily Trust Principles.

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