Canada's First Majestic to buy Gatos Silver for $970 mln (updated)

First Majestic Silver

05/09/2024 12:19

(Adds shares and details from paragraph 2 onwards)
       Sept 5 (Reuters) - Canada's First Majestic  AG.TO  will
acquire Gatos Silver  GATO.N  for about $970 million in an
all-share transaction, the miners said on Thursday.
    Gatos shareholders would receive 2.550 common shares of
First Majestic, or $13.49, for each share they own. 
    Shares of Gatos rose 8.3% to $12.58 in premarket trading. 
    After the closing, expected in early 2025, the combined
company would have a annual production 30 to 32 million ounces
of silver-equivalent. 
        
  

 (Reporting by Seher Dareen in Bengaluru; Editing by Shilpi
Majumdar and Sriraj Kalluvila)
 ((Seher.Dareen@thomsonreuters.com; If in India call +91 74832
70128;))