M&A
confidence high
sentiment positive
materiality 0.75
Newmont secures all regulatory approvals for Newcrest acquisition; votes Oct 11/13
NEWMONT Corp /DE/
- Philippine Competition Commission and PNG Securities Commission cleared; all regulatory conditions met.
- Shareholder votes: Newmont Oct 11, 2023; Newcrest Oct 13, 2023; closing expected Q4 2023.
- Combined company targets $500M annual pre-tax synergies within 24 months and $2B in cash improvements.
- Newmont establishes PNG business unit; Alwyn Pretorius as Managing Director; plans secondary PNGX listing.
- Acquisition adds 10 Tier 1 operations with long-life, low-cost profiles and increased copper output.