Newcrest Agrees To Newmont’s $17.8 Billion Takeover Bid

Australian copper mining major Newcrest has decided to back an acquisition bid by bigger sector player Newmont that will create a new copper and gold giant on the mining scene. The deal, worth some $17.8 billion, is one of the biggest acquisitions since the start of the year. It will make Newmont the biggest U.S. copper and gold miner in terms of market value, according to Reuters. Newmont first made a non-binding offer for Newcrest in February, which valued the company at $16.9 billion, but Newcrest rejected that as too low. Then the gold…