Newmont's Newcrest deal gets clearance from Australian competition regulator

seekingalpha2023-08-22

Newmont (NYSE:NEM) said Monday it received clearance from the Australian Competition & Consumer Commission to proceed with its proposed A$26.2B (~US$16.8B) acquisition of Newcrest Mining (OTCPK:NCMGF)...

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The regulator is expected to convey its clearance to Australia's Foreign Investment Review Board for consideration, Newmont (NEM) said, adding it expects to close the transaction in this year's Q4. The deal has been cleared by regulators in Canada, South Korea and Papua New Guinea, while approvals still must be secured from the Australia Foreign Investment Review Board, the Japan Fair Trade Commission, the Philippine Competition Commission, and the Papua New Guinea government. If the deal goes through, Newcrest (OTCPK:NCMGF) (OTCPK:NCMGY) shareholders would receive 0.4 Newmont (NEM) share for each share held, with an implied value of A$29.27/share.  More on Newmont:  Newmont: Another Weak Production Quarter, Waiting For Newcrest Mining Newcrest: A Solid Year Despite Slight Miss On Guidance At Midpoint Newmont: Ignore The Weak Q2 Results","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2361072735"}