re: Ann: Newcrest Board approves Cadia East D... The market seems to be zeroing in on a 510% bump from Newcrest and the suitors chairman, Ian Smith, seems pretty open to that. Over the weekend he did say that the current $9.2 billion bid is a full and fair offer, but he fell well short of declaring it final. This is classic takeover-speak that advisers teach company executives. You can say its anything, full, fair, fabulous, but never say its final. All indications are still that Lihir is happy to do a deal and I think Newcrest could offer a little bit of extra cash; maybe it will tinker with the scrip proportions. As for the market speculation about Newcrest itself being a takeover target, you can forget it. Newcrests share price has subsided, as a suitor should, indicating those theories of the major American gold miners stepping in for Australias largest were a little far-fetched, considering the capital that would have to be raised to mount such a charge.
DYOR
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