Gold - Australian gold miner Newcrest Ltd said it supports Newmont takeover offer
Australian gold miner Newcrest Mining said on Monday it would back Newmont Corp's AUD26.2 bn takeover offer.
- Newcrest said it recommended its shareholders vote in favour of the deal at a meeting expected to be held in September or October.
- The deal requires Australia's Foreign Investment Review Board (FIRB) sign off as well as Newcrest and Newmont shareholders to vote in support the transaction among other regulatory approvals.
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If the deal gets done t would lift Newmont's gold output to nearly double its nearest rival, Barrick Gold Corp.
Would further solidify Newmont's position as the world's biggest gold producer.
This article was written by Eamonn Sheridan at www.forexlive.com.from Forexlive RSS Breaking News Feed https://ift.tt/bdZyk6C
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