MAG Silver (US:MAG) Globenewswire·2025-06-10 05:41Core Viewpoint - MAG Silver Corp. is proposing an acquisition by Pan American Silver Corp. for approximately $2.1 billion, with a special meeting scheduled for July 10, 2025, to seek shareholder approval for the arrangement [1][2]. Group 1: Acquisition Details - The arrangement involves Pan American acquiring all issued and outstanding MAG shares at a price of $20.54 per share, based on the closing price of Pan American's shares on May 9, 2025 [2]. - Shareholders will receive a mix of $500 million in cash and common shares of Pan American, with options for shareholders to choose between cash or a combination of cash and shares [7][9]. - The arrangement is subject to approval from shareholders, the Supreme Court of British Columbia, and regulatory clearances, with completion anticipated in the second half of 2025 [10][15]. Group 2: Board Recommendations and Benefits - The Board of Directors unanimously recommends that shareholders vote in favor of the arrangement, citing attractive immediate premiums of approximately 21% and 27% based on the closing price and 20-day VWAP of MAG shares [5][7]. - The arrangement offers shareholders diversified exposure to Pan American's portfolio of silver and gold mines, including potential growth opportunities from projects like the La Colorada Skarn and the reopening of the Escobal mine [8]. - The transaction is viewed as a derisking strategy, converting concentrated interests in the Juanicipio Mine into equity ownership of a larger, diversified silver producer [8]. Group 3: Shareholder Engagement and Voting - Shareholders of record as of June 2, 2025, are entitled to vote at the special meeting, with a proxy voting deadline set for July 8, 2025 [4]. - The meeting materials, which include important information regarding the arrangement, will be mailed to shareholders and are also available on the company's website [11]. - Shareholders are encouraged to contact Kingsdale Advisors for assistance with voting [12].