2023-03-24 12:12:05 ET
Pan American Silver ( NASDAQ: PAAS ) said Friday that Mexico's Federal Economic Competition Commission regulators approved its proposed acquisition of Yamana Gold ( NYSE: AUY ), following the sale by Yamana of its Canadian assets including interests in the Canadian Malartic mine, to Agnico Eagle Mines ( AEM ).
The companies said all required regulatory, shareholder and court approvals have now been received, and it expects the proposal will be completed by March 31.
Pan American ( PAAS ) also declared a $0.10/share cash dividend, payable on or about May 12.
Agnico Eagle ( AEM ) will gain full operational control of Canada's top gold mine by annual production, which totaled nearly 715K oz in 2021, in the deal.
Investors need to show patience with Pan American Silver ( PAAS ) as it adds Yamana "but it will come," Fun Trading writes in an analysis published on Seeking Alpha .
For further details see:
Mexico regulator OKs Pan American Silver deal with Yamana, Agnico