NCMGY - Newmont makes sweetened offer valuing Newcrest Mining at $19.5B

2023-04-10 19:35:42 ET

Newcrest Mining ( OTCPK:NCMGF ) said Monday it gave Newmont Corp. ( NYSE: NEM ) access to its books following a sweetened takeover offer that values the Australian miner at A$29.4B (~US$19.5B), with an implied offer price of A$32.87 per Newcrest share that represents a 16% increase on the initial proposal.

In the new offer, Newcrest ( OTCPK:NCMGF ) shareholders would receive 0.4 Newmont ( NEM ) share for every share held; the previous offer of 0.38 Newmont share had valued Newcrest at $16.9B.

Newcrest Mining ( OTCPK:NCMGF ) shares surged last week on the Australian Stock Exchange to their highest level in nearly a year .

Mexico's president has introduced new laws that are unfavorable for miners including Newmont ( NEM ), Real Investments writes in an analysis published recently on Seeking Alpha .

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