Australia’s Newcrest Mining has agreed to acquire the common shares it does not already own in Canadian firm Pretium Resources for $2.8bn (C$3.5bn) via a Canadian plan of arrangement.
Pretium shareholders will have the option to receive $14.8 (C$18.50) per share in cash or 0.8084 Newcrest shares for each share held. This will be subject to proration.
However, a default consideration of $7.42 (C$9.25) per share in cash and 0.4042 Newcrest shares will be issued to Pretium shareholders who do not opt for cash or Newcrest shares.
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