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Pan American Silver Announces Agreement to Acquire MAG Silver Corp.

  • In May 2025, Pan American Silver Corp. Agreed to purchase MAG Silver Corp. In a transaction valued at $2.1 billion, involving a combination of cash and stock payments.
  • The acquisition builds on MAG's 44% stake in the Juanicipio project, a silver operation managed by Fresnillo plc, which sparked Pan American's strategic interest.
  • MAG shareholders may opt for $20.54 cash per share, 0.755 Pan American shares, or a mix, with cash limited to $500 million and subject to proration.
  • MAG CEO George Paspalas described the deal as an attractive option for shareholders, delivering instant value and significant access to Pan American’s exceptional assets and growth potential.
  • The transaction, anticipated to finalize in late 2025 pending regulatory and shareholder approvals, will result in MAG shareholders owning about 14% of Pan American’s total shares when accounting for all outstanding securities.
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Hastings TribuneHastings Tribune
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Pan American Silver Announces Agreement to Acquire MAG Silver Corp.

All amounts expressed in U.S. dollars unless otherwise indicated.

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The Hamilton Spectator broke the news in Hamilton, Canada on Sunday, May 11, 2025.
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