COFECE approves Pan American Silver's acquisition of MAG Silver

The Mexican Federal Economic Competition Commission has approved Pan American Silver Corp.'s (NYSE: PAAS) acquisition of all outstanding shares of MAG Silver Corp. (NYSE American: MAG), according to a company statement.

The transaction is expected to complete on September 4, 2025, after receiving all required regulatory, shareholder and court approvals, including the final court order.

MAG shareholders must indicate their election by 2:00 p.m. Vancouver time on August 27, 2025, to receive either $20.54 in cash per share or the default election of $0.0001 in cash plus 0.755 of a Pan American common share per MAG share held.

The arrangement is subject to proration such that aggregate consideration paid to all MAG shareholders consists of $500 million in cash with remaining consideration paid in Pan American shares.

Pan American operates mines across Canada, Mexico, Peru, Brazil, Bolivia, Chile and Argentina, producing silver and gold. The company owns a 100% interest in the currently non-operating Escobal mine in Guatemala and holds interests in exploration and development projects.

MAG Silver is a Canadian mining company focused on precious metals projects in the Americas. The company holds a 44% joint venture interest in the 4,000 tonnes per day Juanicipio Mine in Mexico, operated by Fresnillo with a 56% stake. MAG also conducts exploration programs at the Deer Trail Project in Utah and the Larder Project in Canada's Abitibi region.

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