Newmont Corp. has sweetened its previous offer to buy Newcrest Mining Ltd. for the equivalent of US$19.5 billion. Find out more.
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The takeover would ripple into Canada, as both companies operate mines here and are listed on the Toronto Stock Exchange. If the deal goes through, Newmont could strengthen its position in British Columbia by acquiring Newcrest’s Red Chris mine, situated about 1,700 kilometres north of Vancouver, and its Brucejack gold mine, which is located about 950 kilometres north of Vancouver.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
The new offer is a non-binding proposal, which means the companies are not legally bound and can withdraw at any time. However, the Newcrest board has agreed to allow Newmont the opportunity to conduct due diligence and put forward a binding proposal in four weeks, which indicates that an agreement between the two companies could be reached within the next month.
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