Pan American wins Mexican antitrust nod for MAG Silver deal
Pan American Silver said on Monday that Mexico’s competition regulator had cleared its $2.1-billion acquisition of MAG Silver, paving the way for the deal to close next month.
“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 September 4, 2025,” Pan American and MAG said in a joint statement.
Under the terms, MAG shareholders can choose to receive either $20.54 in cash for each share held, or $0.0001 in cash plus 0.755 of a Pan American share. The total consideration will include $500-million in cash, with the balance paid in Pan American shares.
Pan American, headquartered in Vancouver, operates mines across the Americas and owns the suspended Escobal mine in Guatemala. The acquisition will give Pan American a 44% interest in the Juanicipio silver mine in Zacatecas, Mexico. The remaining 56% of the high-grade, low-cost operation is held by Fresnillo, which operates the mine.
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