The gold sector’s largest-ever takeover has been cemented after shareholders of Australia’s Newcrest Mining Ltd. gave the final seal of approval for US giant Newmont Corp. to close the transaction valued at near $15 billion.
Shareholders voted on Friday to greenlight Newmont’s acquisition of the Melbourne-based company, which is Australia’s biggest gold miner, Newcrest said in a statement Friday. The deal will consolidate Newmont’s position as the world’s top producer of bullion.
The approval follows an almost unanimous vote on the deal from Newmont shareholders earlier this week. Having secured all necessary regulatory approvals from the Australian government, the takeover faces one last confirmation at a court hearing scheduled for next week.
Read the full story on Bloomberg here.