Lihir Gold to Accept Newcrest Mining Takeover Offer
August 25th, 2010 | File Under : Gold - Mineral Exploration - Mining Stock
Lihir Gold shareholders have voted almost unanimously to accept Newcrest Mining’s $10.6 billion scrip-and-cash takeover offer.
The deal will create the world’s fourth-biggest mining company.
With no sign of a white knight emerging, the vote, in Port Moresby yesterday, makes the acquisition almost a formality, with Papua New Guinea National Court approval of the deal scheme of arrangement the only hurdle.
At the meeting, 99.86 per cent of all votes cast were in favour of the deal, which will see Lihir shareholders receive 0.12 Newcrest shares and 22.5c for every...