Newcrest Agrees to Buy Lihir Gold After Raising Bid

May 4 (Bloomberg) -- Bloomberg's Heidi Couch reports from Sydney about Newcrest Mining Ltd.'s agreement to buy Lihir Gold Ltd. after raising its cash and stock bid to A$9.5 billion ($8.8 billion) to create the world’s fifth-biggest producer of the metal. The bid values Port Moresby, Papua New Guinea-based Lihir’s shares at A$4.03 each, based on yesterday’s closing price, 6.4 percent more than Newcrest’s offer last month, the companies said today in a joint statement. Bloomberg's Haslinda Amin also speaks. (Source: Bloomberg)