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Mining – Regional – Pan American to take over Minefinders in US$1.49bn deal Jan 20, 2012 // Jorja McKinneyNo Comments »Vancouver-based Pan American Silver (TSX: PAA, Nasdaq: PAAS) entered into a definitive agreement to acquire compatriot Minefinders (TSX: MFL, Amex: MFN) via a plan of arrangement in a deal that implies a total transaction value of approximately Cdn$1.5bn (US$1.49bn), the firms said Monday in a joint statement.
Under the terms of the agreement, Minefinders shareholders can elect to receive 0.55 of a Pan American share and Cdn$1.84 in cash, or 0.6235 of a Pan American share or Cdn$15.60 in cash, subject to pro-ration under total aggregate cash and share pools of approximately Cdn$176mn and 53mn shares, respectively, on a fully diluted basis for each Minefinders share held, the statement said.
