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Newmont Proposes $17 Billion Takeover of Australia’s Newcrest Mining

The Wall Street Journal
·4 min read
Newmont Proposes $17 Billion Takeover of Australia’s Newcrest Mining

ADELAIDE, Australia— Newmont has made a roughly $17 billion offer to acquire Australia’s Newcrest Mining , aiming to seal one of the biggest deals for a global gold miner as the industry struggles to make large new discoveries of the precious metal. Newmont, based in Colorado and one of the world’s largest producers of gold, submitted a conditional and nonbinding indicative proposal to acquire Newcrest, Australia’s largest listed gold producer. Newmont said it would offer 0.380 of its own shares for each Newcrest share held.

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