M&A
confidence high
sentiment positive
materiality 0.80
Newmont gets ACCC clearance for Newcrest acquisition; eyes Q4 closing
NEWMONT Corp /DE/
- ACCC cleared Newmont's proposed acquisition of Newcrest and will convey to Australia's FIRB.
- Previous clearances received from Korea Fair Trade Commission, PNG competition regulator, and Canada Competition Bureau.
- Still required: FIRB, Japan Fair Trade Commission, Philippine Competition Commission, and PNG government approvals.
- Transaction expected to close in Q4 2023; annual pre-tax synergies of $500M within 24 months projected.
- Targeting at least $2B in portfolio optimization in the first two years post-closing.