- Newmont Corporation NEM has submitted a non-binding offer Acquire 100% of the issued share capital Newcrest Mining Limited.
- Newmont’s proposal to combine with Newcrest is based on 0.380 Newmont shares per Newcrest share, which would result in the combined company being 30% owned by Newcrest and 70% owned by Newmont.
- “The proposed transaction would combine industry-leading portfolios of assets and projects to create long-term value across our global business, and we welcome the consideration of Newcrest’s Board of Directors,” said Tom Palmer, CEO of Newmont.
- Newmont has retained BofA Securities, Centerview Partners LLC and Lazard as financial advisors, and King & Wood Mallesons and White & Case LLP as legal advisors.
- Newmont held $3.1 billion in cash and equivalents from September 2022.
- price action: NEM shares trade 6.32% lower at $46.70 on the latest premarket Monday.
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