Newmont Raises Bid for Australia’s Newcrest to $19.5 Billion
ADELAIDE, Australia— Newmont Corp. raised its takeover offer for Newcrest Mining Ltd. to around $19.5 billion, as it aims to seal what would be the largest-ever M&A deal in the gold-mining industry.
Newmont’s decision to improve its all-stock offer for Newcrest comes at a time when gold prices are approaching a record high amid stress in the global banking system and heightened worries over the economic outlook. The U.S. company had previously had an around $17 billion bid rebuffed by Newcrest, Australia’s largest-listed gold miner.
ADELAIDE, Australia— Newmont Corp. raised its takeover offer for Newcrest Mining Ltd. to around $19.5 billion, as it aims to seal what would be the largest-ever M&A deal in the gold-mining industry.
Newmont’s decision to improve its all-stock offer for Newcrest comes at a time when gold prices are approaching a record high amid stress in the global banking system and heightened worries over the economic outlook. The U.S. company had previously had an around $17 billion bid rebuffed by Newcrest, Australia’s largest-listed gold miner.
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