(Reuters) – Australia’s No. 1 gold miner Newcrest Mining Ltd on Monday said it received a non-binding all-stock takeover offer implying an equity value of $16.93 billion from U.S.-based gold miner Newmont Corporation.
Under the indicative offer, Newcrest shareholders will receive 0.380 Newmont shares per every Newcrest share.
“The Newcrest board, together with its financial and legal advisers, is considering the indicative proposal,” the Australian gold miner said.
(Reporting by Sameer Manekar in Bengaluru; Editing by Lisa Shumaker)