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Yamana Gold, Pan American Silver shareholders approve Agnico Eagle Mines deal

Yamana Gold (TSX:YRI; NYSE:AUY; LSE:AUY) announced that at a special meeting of shareholders held Tuesday, Yamana shareholders voted overwhelmingly in favour of approving the previously announced acquisition by Pan American Silver of all of the issued and outstanding common shares of the company following the sale by Yamana of its Canadian assets, including subsidiaries and partnerships which hold Yamana’s interests in the Canadian Malartic mine, to Agnico Eagle Mines Limited.

As announced in November, Agnico Eagle Mines (TSX, NYSE: AEM) and Pan American Silver (TSX, NASDAQ: PAAS) are buying fellow Canadian miner Yamana Gold (TSX: YRI), (NYSE: AUY), (LON: AUY) in a $4.8 billion cash-and-shares transaction.

Toronto-based Yamana inked a deal with the two precious metals miners after South Africa’s Gold Fields (JSE, NYSE: GFI) waived its right to match the rival bid.

The arrangement resolution was approved by approximately 98.87% of the votes cast by Yamana shareholders at the meeting, with shareholder turnout of 61.59%.

Related: Agnico Eagle’s dealmaking brings top gold mines into fold

Source: MINING.COM – Read More