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Stock impact report

Newmont clears regulatory hurdle for Newcrest deal, awaits shareholder vote [Reuters]

Newmont Corporation (NEM) 
Last newmont corporation earnings: 2/20 06:55 am Check Earnings Report
Company Research Source: Reuters
Review Board to proceed with its proposed A$26.2 billion ($16.86 billion) takeover of Australia's Newcrest Mining (NCM.AX) The world's largest gold producer had in August received a clearance from Australia's competition regulator. Newmont also received a clearance from Japan's Fair Trade Commission last week, allowing the transaction to be closed anytime post September-end. "Newmont continues advancing other regulatory approvals and expects to close the transaction in the fourth quarter of this year," the company said in a statement on Monday. If the deal goes through, Newcrest shareholders would receive 0.400 Newmont share for each share, with an implied value of A$29.27 a share. The deal still awaits the crucial Newcrest shareholder vote, scheduled for Oct. 13, as well as nods from regulators in the Philippines and Papua New Guinea. Australia's largest gold miner, Newcrest, had in May backed the takeover offer from Newmont, in what would be the third-largest deal ever i Show less Read more
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