Newmont, the mining company, has dismissed two complaints made against the company and its board members regarding its planned acquisition of Australian gold producer Newcrest Mining. The complaints alleged that the proxy statement, which outlined the issuance of Newmont shares to Newcrest Mining shareholders, contained misleading and/or omitted information related to the transaction.
In response to these complaints, Newmont filed supplemental information in a regulatory filing. The company maintains that the allegations are baseless and without merit. However, to ensure that the transaction proceeds smoothly and without delay, Newmont issued additional disclosures without admitting any liability or wrongdoing.
Notably, the Denver-based company revealed that the plaintiffs in the federal actions have agreed to discontinue their efforts as they consider the claims moot. This agreement was reached in exchange for the filed supplemental disclosures.
With all necessary regulatory approvals in place, including clearance from the Papua New Guinea Securities Commission and approval from the Philippine Competition Commission, Newmont is now poised to proceed with its takeover of Newcrest Mining.
