SYDNEY — Newcrest Mining NCM, +1.52% said it has agreed to a $17.5 billion takeover by Newmont NEM, +0.13% , extending a wave of deals in the sector as global miners seek to boost their exposure to metals like copper and gold. Newcrest said on Monday that it recommends shareholders vote in favor of Newmont’s offer, which comprises 0.400 of its own shares for each Newcrest share. In addition, Newcrest is permitted to pay a special dividend of up to $1.10 a share around the time any deal completes.

Source: Wall Street Journal May 14, 2023 22:06 UTC