Newcrest Mining Ltd (NCMGY.PK, NCM.AX) and Lihir Gold Ltd (LIHR,LGG.TO, LGL.AX) announced that they have entered into Merger Implementation Agreement.
Newcrest will acquire all of LGL's ordinary shares under a Scheme of Arrangement in a deal valued at A$9.5 billion. This represents a 6.4% improvement on Newcrest's previous proposal to buy LGL as announced on 1 April 2010.
LGL shareholders will receive one Newcrest share for every 8.43 LGL shares they own, plus A$0.225 cash per share, less any interim dividend declared or paid by LGL for the half year ending 30 June 2010.
Under deal, LGL shareholders will receive Scheme documents in late June and will vote on the Scheme in late July, with completion of the transaction expected in August 2010.
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