(Adds deal details in paragraphs 2 & 3, regulatory status in 4 & 5)
Aug 22 (Reuters) - Gold miner Newmont Corp NEM.N said on Monday it has received clearance from Australia's competition regulator to proceed with its proposed A$26.2 billion ($16.80 billion) takeover of Newcrest Mining (NCM) .
If the deal goes through, Newcrest shareholders would receive 0.400 Newmont share for each share held, with an implied value of A$29.27 a share.
Newcrest in mid-May said it would back the takeover offer in what would be the third-largest deal ever involving an Australian company.
Newmont continues advancing other regulatory approvals and expects to close the transaction in the fourth quarter of this year, it said.
The deal still requires approvals from Australia's Foreign Investment Review Board (FIRB), as well as nods from regulators in Japan, the Philippines and Papua New Guinea.
The Australian Competition and Consumer Commission and Newcrest did not immediately respond to Reuters requests for comment. ($1 = 1.5596 Australian dollars) (([email protected]; Twitter: https://twitter.com/damnit_saladin;))
