Canadian Miner Pan American Silver to Acquire MAG Silver in a $2.1 Billion Deal

Canadian miner Pan American Silver Corp. (PAAS) entered a merger agreement on May 11, 2025, to acquire MAG Silver Corp. (MAG) in a deal valued at $2.1 billion.

Deal Structure:

Under the terms of the agreement, MAG shareholders will be able to elect to receive the consideration as either $20.54 in cash per MAG share or 0.755 common shares of Pan American per MAG share, or a combination of cash and shares, subject to proration such that the aggregate consideration paid to all MAG shareholders consists of $500 million in cash and the remaining consideration paid in Pan American Shares.

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