(RTTNews) - Newmont Corp. (NEM, NGT.TO) confirmed Sunday that it has submitted a non-binding proposal to acquire Newcrest Mining Limited.
Newmont's proposal to merger with Newcrest is on the basis of 0.380 Newmont shares per Newcrest share, which would result in the combined company being 30 percent owned by Newcrest and 70 percent owned by Newmont.
Newmont's proposal is subject to certain customary conditions, including due diligence to the satisfaction of both parties.
Newmont has advised shareholders need not take any action at this time as there can be no certainty that a transaction will be concluded.
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