Newcrest Mining received a takeover offer from Newmont Corporation

Newcrest Mining Limited (ASX: NCM) announced that it had received a conditional and non-binding indicative offer from Newmont Corporation to buy the whole of the issued shares of Newcrest under a scheme of arrangement. As per the offer, Newcrest shareholders would be allowed to receive 0.380 Newmont shares for each Newcrest share held.

This indicative offer comes after receiving an indicative, non-binding, and conditional proposal from Newmont to acquire Newcrest at an exchange ratio of 0.363 Newmont shares for each Newcrest share. The Newcrest Board had measured that Newmont’s previous offer would not provide sufficiently compelling value to Newcrest shareholders and, on that basis, rejected the last offer.

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