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Gold miners Newmont and Newcrest in $17bn merger talks

World number-one gold miner Newmont is moving to acquire Newcrest, another Australian heavyweight in the field. Elsewhere, Dell has become the latest PC maker to instigate lay-offs following a slump in demand, while the Rothschild family is seriously weighing up a buy-out of Rothschild & Co. In the automotive space, UK EV battery start-up Britishvolt are set to be taken over by Australian firm Recharge Industries, while Nissan and Renault have announced a conscious uncoupling.

Gold mining merger talks

The world’s number-one gold miner Newmont [NEM] is said to be in talks to acquire rival producer Newcrest [NCM.AX] for $17bn, as first reported by the Australian Financial Review. The combined entity would be 30% owned by Newcrest shareholders, said Newmont’s president Tom Palmer in a statement. “We believe a combination of Newmont and Newcrest presents a powerful value proposition to our respective shareholders, workforce and the communities in which we operate,” added Palmer.

Dell lays off 5% of workforce

A slump in PC sales has forced Dell Technologies [DELL] to cut 6,650 jobs, or roughly 5% of its global workforce, following lay-offs announced by fellow PC makers HP [HP] and IBM [IBM]. In a memo seen by Bloomberg, co-chief operating officer Jeff Clarke said that tough macro headwinds “continue to erode”. Of all the major PC makers, Dell saw the biggest year-over-year drop in sales in Q4, IDC data shows.

Rothschild weighs up buy-out

The Rothschild family is seriously considering a buy-out of Rothschild & Co [ROTH.PA] at €48 per share, the Financial Times has reported. Holding company Concordia said in a statement that the firm’s global advisory, wealth and asset management, and merchant banking businesses don’t need access to capital from public equity. “Each of the businesses is better assessed on the basis of their long-term performance rather than short-term earnings. This makes private ownership of the group more appropriate than a public listing.”

Britishvolt to be rescued

The assets of collapsed EV battery start-up Britishvolt are set to be taken over by Australian firm Recharge Industries. When Britishvolt went into administration last month, Hargreaves Lansdown markets analyst Susannah Streeter told the Evening Standard that it was “a big bump in the road for the future of battery-making in the UK, just as demand for EVs has surged”.

Nissan and Renault shake up partnership

Carmakers Nissan [7201.T] and Renault [RNO.PA] have announced a major shake-up of their partnership. Renault is set to pare down its holding in Nissan from 43% to 15%, while Nissan is expected to take a 15% stake in Renault’s EV unit, Ampere. The French group is currently undergoing a major overhaul that will see Ampere listed on the Paris Stock Exchange in the second half of the year.

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