Newmont sweetens its golden megamerger offer for Newcrest to $19.5 billion

On:

Illustration: Aïda Amer/Axios

Denver-based gold miner Newmont has increased its takeover offer for Australian rival Newcrest to US$19.5 billion in stock.

Why it matters: Newmont already is the world's largest gold miner, and buying Newcrest would give it nearly double the annual output of its closest rival (Barrick Gold).

By the numbers: Newmont in February offered to buy Newcrest for around US$17 billion, which represented a 46% stock price premium, and says it won't go higher. In response, Newcrest has allowed Newmont to see its books.

The bottom line: Gold prices have climbed nearly 20% over the past six months, topping $2,000 and closing in on the all-time high from August 2020.

Source: Read Full Article

Lates News:
  1. This easy one-pan chicken recipe has a trick up its sleeve
  2. Kate Middleton dubbed ‘chosen one’ as ‘magical’ moment spotted by royal fans
  3. Hero farmer tackles wildfire by ploughing trench to stop interno ravaging house
  4. Royal fans all say the same thing as King Charles and Camilla sit on their thrones for the first time | The Sun
  5. Sunseekers drenched by rain year on from record-breaking dry spell