Newcrest Mining received a revised non-binding indicative bid from Newmont

Newcrest Mining Limited (ASX: NCM) announced that it has received an amended conditional and non-binding offer from Newmont Corporation to purchase 100% of Newcrest's outstanding shares under a plan of arrangement. The Amended Plan provides Newcrest owners with 0.400 Newmont shares for each Newcrest share they possess. Furthermore, the Amended Proposal allows the company to pay a franked special dividend of up to US$1.10 per share at the beginning or immediately after the plan of arrangement.

The Amended Proposal provides Newcrest shareholders with an implied value of AU$32.87 per share. After reviewing the Revised Proposal, the company has agreed to allow Newmont to complete confirmatory due diligence to submit a binding proposal. Due diligence is projected to take around four weeks to complete. During this time, Newcrest will also conduct confirmatory due diligence on Newmont.

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