Yamana Gold takeover to be completed next week after Mexico nod

(Alliance News) - Yamana Gold Inc on Friday said its takeover received the regulatory nod in ...

Alliance News 24 March, 2023 | 6:19PM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - Yamana Gold Inc on Friday said its takeover received the regulatory nod in Mexico, with all hurdles for the deal now cleared.

The Mexican Federal Economic Competition Commission approved the buyout on Thursday, Yamana said. Yamana backed a joint Pan American Silver Corp and Agnico Eagle Ltd offer in November.

"All required regulatory, shareholder and court approvals, including the final court order, have now been received and the arrangement is anticipated to be completed on or about March 31, 2023," the company said.

Yamana originally had agreed to be bought by Johannesburg-listed Gold Fields Ltd, but the board then switched support to the joint Pan American Silver and Agnico Eagle bid.

Under the joint bid, the consortium offered USD1.0 billion in cash, plus about 153.5 million shares in Pan American, which is listed on Nasdaq, and some 36.1 million shares in Agnico Eagle, which is on the New York Stock Exchange.

By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Yamana Gold Inc
Gold Fields Ltd 30,409.00 ZAC -0.75 -
Yamana Gold Inc

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures