SilverCrest Metals (TSX: SIL) has seen shareholders approve of its acquisition by Coeur Mining (NYSE: CDE). The company saw over 99% of votes cast at its shareholder meeting approve of the transaction.
The transaction will see SilverCrest shareholders receive 1.6022 Coeur common shares for each share of SilverCrest held, implying consideration of $11.34 per share at the time of announcement. The figure implied an 18% premium for SilverCrest shareholders, while valuing the company as a whole at $1.7 billion.
With approvals in hand, the transaction is now scheduled to close on February 14, 2025.
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READ: SilverCrest Reports Q4 Production Of 2.5 Million Silver Equivalent Ounces
Upon closing of the transaction, Coeur Mining is expected to have an annual production profile of approximately 21 million silver ounces, and 432,000 gold ounces.
SilverCrest Metals last traded at $15.90 on the TSX.
Information for this briefing was found via Sedar and the sources mentioned. The author has no securities or affiliations related to these organizations. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
