Newcrest: Shares continue to surge as Newmont tables “best and final” takeover bid of $29.4b

Newcrest Shares continue to surge as Newmont tables “best and final” takeover bid of $29.4b

• Shares in Newcrest Mining (NCM) are continuing to surge after one of the world’s largest gold miners, Newmont Corporation, tabled its “best and final” takeover offer of US$19.5 billion (A$29.4 billion)
• It follows a share price rise of more than 12 per cent across the past five days to April 11, up 23.8 per cent over the past month, and more than 70 per cent across the past six months
• If the deal goes through, it would lift New mont’s gold output to almost double the world’s largest gold miner and rival NSYE-listed Barrick Gold
• Under the revised takeover offer, New crest shareholders would receive 0.4 Newmont shares for each share held, valued at $32.87 apiece
• Shares in NCM were up 0.25 per cent, trading at $29.82 at 11:15 am AEST