Agnico Eagle Mines - Pan American Silver Offer Around $5B To Buy Yamana Gold

Author: Vandana Singh | November 04, 2022 11:01am

• Yamana Gold Inc (NYSE:AUY) received an unsolicited binding proposal from Agnico Eagle Mines Ltd (NYSE:AEM) and Pan American Silver Corp (NASDAQ:PAAS) to acquire the company in an almost $5 billion cash-and-stock deal.
• Total consideration consists of $1.0 billion in cash and the issuance of approximately 153.5 million Pan American shares and approximately 36.1 million Agnico shares.
• Under the terms of the offer, Yamana shareholders would receive $1.0406 in cash, 0.0376 of an Agnico Share, and 0.1598 of a Pan American Share for each share held.
• Gold Fields Limited (NYSE:GFI) had agreed to acquire Yamana Gold for $6.7 billion in May. The outstanding Yamana Shares will be exchanged for 0.6 of an ordinary share of Gold Fields.
• Yamana informed Gold Fields that the new offer constitutes a "superior proposal" and has five days in case it wants to amend its existing offer.
• A special meeting of Yamana shareholders to consider the Gold Fields Arrangement is scheduled for November 21.
• Price Action: AUY shares are up 17.6% at $4.80 on the last check Friday.
• Photo by Steve Bidmead from Pixabay

Posted In: AEM AUY GFI PAAS