Yamana Gold takeover is now complete

Article Excerpt

Yamana Gold has now been officially taken over by Pan American Silver Corp. (symbol PAAS on Toronto) and Agnico Eagle Mines Ltd. (symbol AEM on Toronto). As a result, Yamana’s shares stopped trading on the Toronto exchange on April 3, 2023. YAMANA GOLD owned and operated five gold mines, in Canada, Brazil, Chile and Argentina. This included the Cerro Moro gold/silver mine in Argentina. Under the $4.8 billion U.S. takeover, Yamana shareholders received $1.04 U.S. in cash, and 0.1598 of a Pan American share and 0.0376 of an Agnico Eagle share for each Yamana share they held. Based on the prices for Pan American and Agnico Eagle shares on closing, the offer was valued at about $8.02 per Yamana share. Under the terms of the transaction, Pan American will now sell to Agnico Eagle some of Yamana’s assets, including the Canadian Malartic mine (which is currently owned 50-50 by Yamana and Agnico Eagle). Pan American will keep Yamana’s other assets, mostly based in Latin…