Newcrest Board Backs $19.5 Billion Newmont Gold Takeover
- Update expected after May 11 when due diligence ends
- Deal would create by far the world’s biggest gold miner
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Newcrest Mining Ltd.’s board is prepared to recommend a takeover offer from Newmont Corp. to its shareholders, interim Chief Executive Officer Sherry Duhe said.
Newmont made a non-binding offer to buy Newcrest last month in a deal that valued the Newcrest at A$29.4 billion ($19.5 billion). If successful, the deal would create by far the world’s biggest gold miner, with sites in North and South America, Africa, Australia and Papua New Guinea.