Newmont Mining Bids $4.4 Billion for 2 Firms

Newmont Mining Corp. unleashed a one-two punch of acquisition deals that will make it the world’s biggest gold miner.

Denver-based Newmont said it is offering to buy Canada’s Franco-Nevada Mining Corp. and Australia’s Normandy Mining Ltd. in deals worth a total $4.42 billion in cash and stock.

Once the acquisitions are complete, Newmont will have a market capitalization of about $9.1 billion.

Newmont offered to buy Australia’s Normandy Mining for 0.0385 of a Newmont common share for each Normandy share. It will pay an additional 5 Australian cents a share in cash if the offer is accepted by at least 90% of shareholders.

Newmont also said it would acquire Toronto-based Franco-Nevada in a deal under which Franco shareholders will receive 0.8 of a Newmont share for each share tendered to the offer.

Franco-Nevada, which owns 19.9% of Normandy, has agreed to tender company-owned shares to Newmont.