On May 14th, 2023, Newmont Corporation announced its definitive agreement to acquire Newcrest Mining Limited through an Australian Scheme of Arrangement. Under this deal, Newmont will obtain 100% of Newcrest shares. In return, Newcrest shareholders will receive 0.400 Newmont shares for every Newcrest share they hold, plus a special dividend of up to $1.10 per share, marking a 30.4% premium. This acquisition bolsters Newmont's position as a gold mining leader, bringing 10 Tier 1 operations supporting future gold and copper production. Expected annual pre-tax synergies amount to $500 million, achievable within the first 24 months. Newmont targets enhancing its cash flows by at least $2 billion within two years post-closure via portfolio optimization. Both Newcrest's and Newmont's boards unanimously recommend this scheme, which awaits shareholder approval and is expected to be finalized in Q4 2023. Newcrest's implied equity value, given current market prices, stands at A$26.2 billion, factoring in the dividend, reaching an enterprise value of A$28.8 billion. Post-transaction, Newmont and Newcrest shareholders will own about 69% and 31% of the combined entity, respectively. For this transaction, Newmont has sought advisory from BofA Securities, Centerview Partners LLC, Lazard, BMO Capital Markets, and legal counsel from King & Wood Mallesons and White & Case LLP.