SilverCrest Metals has secured approval from Mexico’s Comisión Federal de Competencia Económica (COFECE) for its $1.7bn (C$2.45bn) acquisition by Coeur Mining.
Under the deal, SilverCrest shareholders will receive 1.6022 Coeur shares per SilverCrest share, valuing each at $11.34. Following the acquisition, Coeur shareholders will own 63% of the merged entity, while SilverCrest shareholders will hold 37%.
SilverCrest CEO N. Eric Fier described the approval as a major milestone toward building a leading global silver company through the merger.
The agreement, signed in October 2024, aims to enhance production, diversification, and growth opportunities for the combined company.
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