Tuesday 21 May 2013
Ottawa, Canada.- The Canadian Group Pan American Silver announced last Tuesday that they are preparing to buy Minefinders, which exploits a mine in Mexico, for US$1.140 billion, in a transaction that should receive shareholders’ approval next March. The project values Minefinders in US$11.90 per share. The purchase proposal represents a “36% premium over Minefinders’ shares closing price in Toronto Stock Exchange on January 20, 2012”, both groups informed.
They said that an Extraordinary Stockholders Meeting is scheduled next March to approve the agreement. Pan American Silver, a low-cost primary silver mining company, operates seven mines in Latin America (Mexico, Peru, Argentina and Bolivia).
Minefinders, on the other hand, operates Dolores gold and silver mine in Mexico.
| MORE NEWS |
