Newcrest Mining (NCMGY) states: "Further to the ASX announcement dated 6 February 2023, the Newcrest Board provides the following update on its review of the conditional, non-binding and indicative proposal received from Newmont Corporation (NEM) on 5 February 2023. Under the Indicative Proposal, Newmont would acquire 100% of the issued shares of Newcrest by way of a scheme of arrangement, for 0.380 Newmont shares for each Newcrest share held. The Board has considered the Indicative Proposal and has unanimously determined to reject the offer as it does not represent sufficient value for Newcrest shareholders." Reference Link
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on NEM:
- Newmont COO Rob Atkinson to transition to new role, Natascha Viljoen to succeed
- UBS downgrades Newmont ahead of expected dividend cut
- Newmont downgraded to Neutral from Buy at UBS
- Newmont upgraded to Outperform from Neutral at Exane BNP Paribas
- Newmont Tanks on Takeover Offer for Australia’s Newcrest