Newcrest shareholders approve Newmont takeover

The final paperwork making the acquisition legally binding should be lodged with the securities regulator on Wednesday, pending a court hearing on Tuesday that's basically a formality.

Newcrest shareholders will receive 0.4 Newmont shares for each Newcrest share they hold once the scheme becomes effective, as well as a special dividend. 

Newcrest shares will be delisted on October 26 and Newmont shares will trade on the exchange via a CDI beginning on October 27.

Interim Newcrest CEO Sherry Duhe told the shareholders at the scheme meeting that the combined company would set a new benchmark in gold production with increased diversification across a premier portfolio of gold and copper assets.

Colorado-headquartered Newmont is the world's largest goldminer, with mines in the US, Australia, Canada, South America and Africa.