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Newmont nearing takeover of Newcrest - report

Kitco Media
By Michael McCrae
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(Kitco News) - The board of Newcrest Mining is willing to see its company be acquired by Newmont, according to a report by Bloomberg.

Newmont's recent offer was $19.5 billion. Newcrest's board is prepared to recommend a takeover, writes Bloomberg.  

In April Newcrest (TSX: NCM) and Newmont (TSX: NGT) entered into an exclusivity deed, satisfying a condition of Newmont’s revised conditional and non-binding proposal to acquire 100% of the issued shares in Newcrest by way of a scheme of arrangement.

Newmont is the world’s largest gold producer in 2022, while Newcrest ranked eighth. 

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Michael McCrae

Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties. He was co-founder and publisher of MINING.com, an award-winning news site. Before coming to media, McCrae worked in IT and banking. Please reach out: mmccrae@kitco.com or (514) 670-1383. You can also follow him at @michaelmccrae.

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