After spoiled attempts at a 4-way merger, Australian gold-producer Normandy Mining has extended an offer to include Newcrest Mining in its plans for a merger.
Earlier in the year, Normandy attempted to merge with PosGold, North Flinders Mines and Gold Mines of Kalgoorlie in an effort to consolidate the Normandy Group of companies. But in March, after Newcrest Mining acquired large blocks of shares in both Normandy and in PosGold from Minorco (NASDAQ), Newcrest blocked the proposal in favor of a merger between it and Normandy alone.
The Australian Financial Review reports that Normandy has countered that proposal, giving Newcrest the opportunity to join in what is now a proposed 5-way merger.
The new company would be the third-largest gold mining company in the world.
The proposal before Newcrest is reported to be the same offer Normandy made to the three other companies, all of which accepted.
Be the first to comment on "Normandy extends offer to include Newcrest Mining in merger plans"