Newcrest CEO Says Ball Is in Newmont’s Camp in Takeover Talks

Duhe says Newcrest ‘worth a lot more’ than $17 billion offer
Australian gold miner earlier Thursday rejected takeover bid

WATCH: Newcrest interim CEO Duhe talks about the decision by the Australian gold miner to reject an initial $17 billion takeover bid by Newmont.Source: Bloomberg

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By Rob Verdonck, Yvonne Man, and Rishaad Salamat

February 16, 2023 at 3:12 AM UTC

This article is for subscribers only.

Australian gold miner Newcrest Mining Ltd. is “worth a lot more” than the approximately $17 billion takeover bid made by US rival Newmont Corp., according to the company’s interim chief executive officer.

“The company is not up for sale and this was unsolicited,” Sherry Duhe said in an interview on Bloomberg Television. “We have offered Newmont limited conversations to share a bit more about where we see value in the portfolio and so obviously that’s with them now to see if they’d like to decide to engage.”