2023-03-22 09:27:17 ET
Newmont ( NYSE: NEM ) has gained partial access to Newcrest Mining's ( OTCPK:NCMGF ) ( OTCPK:NCMGY ) corporate books, a sign that Newmont could make a revised takeover offer, Bloomberg reported Wednesday.
Newcrest ( OTCPK:NCMGF ) ( OTCPK:NCMGY ) rejected Newmont's ( NEM ) $17B acquisition proposal last month , but investors see few options for Newcrest, with no obvious alternative buyers; no. 2 bullion producer Barrick Gold ( GOLD ) has said it does not plan to make a rival offer, and third ranked Agnico Eagle Mines ( AEM ) is still concluding its second big gold takeover in 13 months.
Finding a price tag that satisfies both sides could stretch negotiations over several weeks or months, Sprott Asset Management's Douglas Groh told Bloomberg.
Adding to Newcrest's ( OTCPK:NCMGF ) ( OTCPK:NCMGY ) challenges is the abrupt departure of CEO Sandeep Biswas in December .
For further details see:
Newmont undertaking limited due diligence on Newcrest weeks after offer rejected