"The deal may still be seen as opportunistic by (Newcrest's) board and shareholders given short-term operational issues, an interim CEO, and a perceived lack of market appreciation for long-term project potential," RBC said in a report. The latest bid is 16% higher than Newmont's initial proposal, and represents around a 46% premium to Newcrest's share price on Feb. 3 before Newmont's first bid was announced. Newmont is also offering a franked special dividend of up to $1.10 per share and is seeking unanimous board approval to proceed with the binding offer after a due diligence period of around four weeks.