Yamana Gold, Pan American shareholders approve Agnico Eagle deal

The Canadian Malartic open-pit gold mine in northwestern Quebec. (Image courtesy of Canadian Malartic)

Yamana Gold (TSX: YRI; NYSE: AUY; LSE: AUY) shareholders have voted overwhelmingly in favour of the previously announced acquisition by Pan American Silver of the company following the sale of its Canadian assets, including subsidiaries and partnerships which hold Yamana’s interests in the Canadian Malartic mine, to Agnico Eagle Mines.

As announced in November, Agnico Eagle Mines (TSX, NYSE: AEM) and Pan American Silver (TSX, NASDAQ: PAAS) are buying Yamana 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%.

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