Oil
NEM

Newmont shareholders vote in favor of $16.8 bln Newcrest buyout

Credit: REUTERS/DADO RUVIC

Adds details, background in paragraphs 2-5

Oct 11 (Reuters) - Newmont Corporation NEM.N, the world's largest gold producer, said on Wednesday more than 96% of shareholder votes were cast in favor of its proposed A$26.2 billion ($16.80 billion) acquisition of Australian gold miner Newcrest Mining NCM.AX.

Both the companies expect the deal to close in early November, Newmont said.

Newcrest had in May backed the takeover offer from Newmont, in what would be the third-largest deal ever involving an Australian company.

The deal still awaits the crucial Newcrest shareholder vote, scheduled for Oct. 13.

Newcrest last week said Newmont had received all government regulatory approvals required for the deal to go through, including from Australian Foreign Investment Review Board and competition authorities in Australia, Canada and Papua New Guinea.

($1 = 1.5591 Australian dollars)

(Reporting by Echha Jain; Editing by Shilpi Majumdar)

((Echha.Jain@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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