Newcrest Mining (OTCPK:NCMGF) said on Monday that it has given Newmont Corp. (New York Stock Exchange:NEM) access to its books following a sugar-coated takeover offer that values the Australian miner at A$29.4B (~US$19.5B), with an implied offer price of A$32.87 per Newcrest share representing an increase of 16% over the initial proposal.
In the new offer, Newcrest (OTCPK:NCMGF) shareholders would receive 0.4 shares of Newmont (NEM) for every share they own; Newmont’s earlier offering of 0.38 shares had valued Newcrest at $16.9 billion.
Shares of Newcrest Mining (OTCPK:NCMGF) rose last week on the Australian Stock Exchange to their highest level in almost a year.
Mexico’s president introduced new laws that are unfavorable to mining companies, including Newmont (NEM), Real Investments writes in an analysis recently published in Seeking Alpha.