Newmont Makes $17 Billion Offer for Australia’s Newcrest. A Bidding War Could Be Coming.

Newmont


has made an offer worth around $17 billion to acquire Australia’s


Newcrest Mining


an approach which could set off competing bids as international gold miners seek to secure the most promising long-term assets.

Newmont


(ticker: NEM), based in Colorado and the world’s largest producer of gold, said it it would offer 0.380 of its own shares for each


Newcrest


(NCMGY) share.