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12.05.25 - 04:24
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Pan American Silver Announces Agreement to Acquire MAG Silver Corp. (Business Wire)
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Adds Strategic Interest in Tier-One Juanicipio Silver Mine and Significantly Strengthens its Silver Portfolio
All amounts expressed in U.S. dollars unless otherwise indicated.
VANCOUVER, British Columbia--(BUSINESS WIRE)--Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) ("Pan American") and MAG Silver Corp. (NYSEAM:MAG) (TSX:MAG) ("MAG") are pleased to announce that they have entered into a definitive agreement whereby Pan American will acquire all of the issued and outstanding common shares of MAG pursuant to a plan of arrangement (the "Transaction"). MAG is a tier-one primary silver mining company through its 44% joint venture interest in the large-scale, high-grade Juanicipio mine, operated by Fresnillo plc ("Fresnillo"), who holds the remaining 56% interest in the Juanicipio joint venture.
Under the terms of the Transaction, MAG shareholders will receive total consideration of approximately $2.1 billion representing $20.54 per MAG share, based on the closing p...
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