Newmont Corporation raised its offer for Australia's Newcrest Mining Ltd on Tuesday to A$29.4 billion ($19.5 billion) to close a deal that would extend Newmont's lead as the world's biggest gold producer.
on Tuesday to A$29.4 billion to close a deal that would extend Newmont's lead as the world's biggest gold producer.
. The merger is set to be the third-largest deal ever involving an Australian company and the third-largest globally in 2023, according to data from Refinitiv and Reuters calculations. "Newmont has indicated that the revised proposal represents its best and final price in the absence of a competing proposal," Newcrest said in a statement.
"I think this offer strikes a better balance. We are positively disposed to the Newcrest-Newmont merger and would intend to remain a shareholder of the combined entity were a transaction to proceed," said Chief Investment Officer Simon Mahwinney at Newcrest's top shareholder Allan Gray Australia.
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