INVESTORS AND MEDIA 
In the news
Yamana Gold (TSX: YRI) announced today it has received an unsolicited binding proposal from Agnico Eagle Mines and Pan American Silver for the acquisition by Pan American of all of the issued and outstanding common shares of the company and the sale by Yamana of certain subsidiaries and partnerships which hold Yamana's interests in its Canadian assets, including the Canadian Malartic mine, to Agnico, all by way of a proposed plan of arrangement.
The company said that under the new offer, Pan American would acquire all of the issued and outstanding common shares for total consideration consisting of US$1.0 billion in cash and the issuance of approximately 153.5 million common shares of Pan American and approximately 36.1 million common shares of Agnico.
Yamana added that under the new offer, shareholders of the company would receive $1.0406 in cash, 0.0376 of an Agnico share and 0.1598 of a Pan American share for each common share held.
"The Board of Directors of the company has determined in good faith, after consultation with its outside financial and legal advisors and upon the unanimous recommendation of the special committee of independent directors of the Board, that the new offer constitutes a "Yamana Superior Proposal" in accordance with the terms of the arrangement agreement between the company and Gold Fields dated May 31, 2022," it noted in a press release.
Yamana also said that in accordance with terms of the Gold Fields arrangement agreement, the company has notified Gold Fields that the Board has determined that the new offer constitutes a Yamana Superior Proposal and that the five business day matching period has commenced, during which Gold Fields has the right, but not the obligation, to propose to amend the terms of the Gold Fields arrangement agreement in order for the new offer to cease to be a Yamana Superior Proposal.
Yamana Gold is a Canadian-based precious metals producer with significant gold and silver production, development stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile and Argentina.
