11:41 AM EDT, 07/11/2025 (MT Newswires) -- (Updates shares.)

MAG Silver ( MAG ) late on Thursday said shareholders voted to approve the US$2.1-billion sale of the company to Pan American Silver ( PAAS ) .

The deal was approved at a special meeting of MAG shareholders on Thursday by 99.5% shares voted in favor of the sale.

MAG shareholder will receive US$20.54 in cash for each share held or US$0.0001 in cash and 0.755 of a Pan American share for each share held.

With the shareholder approval, MAG will now seek a final order from the Supreme Court of British Columbia at a hearing scheduled for July 14. The deal has received Canadian competition authorization and TSX and NYSE approvals.

If all closing conditions are satisfied or waived, the deal is expected to close in the second half of 2025.

MAG shares were last seen up $0.89 to $30.46 on the Toronto Stock Exchange.

Price: 30.47, Change: +0.90, Percent Change: +3.04