© Reuters. A small toy determine and gold imitation are seen in entrance of the Newmont brand on this illustration taken November 19, 2021. REUTERS/Dado Ruvic/Illustration
(Reuters) -Gold miner Newmont Corp mentioned on Monday it has acquired a clearance from Australia’s Foreign Investment Review Board to proceed with its proposed A$26.2 billion ($16.86 billion) takeover of Australia’s Newcrest Mining (OTC:).
The world’s largest gold producer had in August acquired a clearance from Australia’s competitors regulator.
Newmont additionally acquired a clearance from Japan’s Fair Trade Commission final week, permitting the transaction to be closed anytime submit September-end.
“Newmont continues advancing other regulatory approvals and expects to close the transaction in the fourth quarter of this year,” the corporate mentioned in an announcement on Monday.
If the deal goes via, Newcrest shareholders would obtain 0.400 Newmont share for every share, with an implied worth of A$29.27 a share.
The deal nonetheless awaits the essential Newcrest shareholder vote, scheduled for Oct. 13, in addition to nods from regulators within the Philippines and Papua New Guinea.
Australia’s largest gold miner, Newcrest, had in May backed the takeover provide from Newmont, in what can be the third-largest deal ever involving an Australian firm.
Newcrest didn’t instantly reply to Reuters’ request for a remark.
($1 = 1.5540 Australian {dollars})
