Newmont Supplies Further Information to Proxy on Combination Following Issued Complaints
October 04 2023 - 11:22AM
Dow Jones News
By Denny Jacob
Newmont rejected as without merit two complaints issued against
the company and individual board members related to its planned
takeover of Australian gold producer Newcrest Mining.
The mining company, as part of additional information provided
in a regulatory filing, said it received two complaints alleging
that a proxy statement related to the issuing of Newmont shares to
shareholders of Newcrest Mining misrepresented and/or omitted
certain allegedly material information concerning the
transaction.
Newmont in September filed with the Securities and Exchange
Commission a proxy statement for a planned special meeting of
shareholders that considered, among other things, the share
issuance proposal as part of the deal with Newcrest.
On Wednesday, Newmont said it believes the allegations are
without merit. However, in order to avoid risk that the complaints
may delay or otherwise adversely affect the transaction, it issued
supplemental information to minimize costs and uncertainties,
without admitting any liability or wrongdoing.
The Denver-based company said plaintiffs in the federal actions
have agreed that the claims are moot and will voluntarily
discontinue their efforts in exchange for the filed supplemental
disclosures.
Newmont has received all regulatory approvals for the
transaction with Newcrest after receiving clearance from the Papua
New Guinea Securities Commission, which followed approval last week
from the Philippine Competition Commission.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
October 04, 2023 11:07 ET (15:07 GMT)
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