By Canadian Press

Coeur Mining signs all-stock deal to buy SilverCrest Metals valued at US$1.7B

Oct 4, 2024 | 6:21 AM

VANCOUVER — Coeur Mining Inc. has signed a deal to buy SilverCrest Metals Inc. that values the company at about US$1.7 billion.

Under the agreement, SilverCrest shareholders will receive 1.6022 Coeur common shares for each SilverCrest common share they hold.

The proposal values SilverCrest shares at US$11.34 per share, based on the closing price of Coeur common shares on the New York Stock Exchange on Thursday. The offer is a 22 per cent premium to where SilverCrest shares closed before the deal was announced.

Vancouver-based SilverCrest owns the Las Chispas operation in Sonora, Mexico.

Coeur shareholders will hold a 63 per cent stake in the combined company, while SilverCrest shareholders will own 37 per cent.

holiday check stops

Nanaimo motorists shine during province-wide crackdown

1h ago

targeted job action

Striking Nanaimo postal workers disrupt Purolator operations

5h ago

final flight

Massive Philippine Mars waterbomber preparing for final Island departure

9h ago

The deal, which requires shareholder, court and regulatory approvals, is expected to close late in the first quarter of 2025.

This report by The Canadian Press was first published Oct. 4, 2024.

Companies in this story: (TSX:SIL)

The Canadian Press