Newcrest has rejected Newmont’s $24.45B takeover bid after week-long deliberation.
Newcrest’s board said it is still open to negotiations but thought the offer didn’t represent sufficient values for shareholders.
The missing men whose vehicle fell into a hole approximately 100 meters underground in the collapse in the Dugald River underground mine have died.
Trevor Davis and Dylan Langridge were found on Thursday evening by drones.
Perenti chief executive Mark Norwell said “This is a devastating outcome and I want to extend my deepest sympathies and condolences to the families, friends, colleagues and loved ones of Trevor and Dylan, both of whom should have come home safely from work yesterday.”
Mineral Resources has secured control of Norwest Energy after their voting power increased to 53.86% on Thursday.
Norwest recommended its shareholders accept Mineral Resources’ $497M offer which would give them 1 fully paid Mineral Resources’ share for every 1300 Norwest share.
Mineral Resources’ managing director, Chris Ellison said “I’m delighted that so many Norwest shareholders have already accepted our revised offer and that we now have majority control of Norwest.”
Catalyst Minerals now has 88.1% voting power in Vango Mining from its takeover offer which was declared unconditional on Wednesday.
Vango shareholders will receive 5 fully paid Catalyst shares for every 115 Vango shares.
The S&P/ASX200 markets have continued to fall this week, with some ups and downs throughout the week.
Starting at 7,425 points on Monday, it peaked on Tuesday at 7,477 points before falling to 7,338 points on Wednesday. The markets recovered again on Thursday at 7,421 points then fell again on Friday to 7,347 points.
The All Ordinaries spiked on Tuesday to 7,672 points but fell to 7,552 points on Friday.
Gold stayed stable though much of the week, before falling to $1,827.50 USD on Friday.
Silver was slightly less stable, slowly decreasing throughout the week to $21.66 USD.