(Adds details on the offer, background in paragraphs 2-4)
May 15 (Reuters) - Australia's Newcrest Mining Ltd (NCM) said on Monday it will recommend that its shareholders vote in favour of Newmont Corp's NEM.N final takeover offer that values the gold miner at A$26.2 billion ($17.8 billion).
If the deal gets Newcrest shareholders' approval and other regulatory nods, it would lift Newmont's gold output to nearly double its nearest rival Barrick Gold Corp ABX.TO , further solidifying Newmont's position as the world's biggest gold producer.
Under the deal, Newcrest shareholders would receive 0.400 Newmont share for each share held, with an implied value of A$29.27 a share, higher than a previous exchange ratio of 0.380 that Newcrest's board unanimously rejected in February.
Newmont is also offering a franked special dividend of up to $1.10 per share on or around the implementation of the deal. ($1 = 1.4743 Australian dollars)
