Deals
Coeur Shares Sink After Deal to Buy SilverCrest for $1.7 Billion
- Combined company to make 21 million ounces of silver per year
- Deal comes as silver prices have been surging recently
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Shares of precious metals miner Coeur Mining Inc. tumbled after the company said it entered a deal to acquire SilverCrest Metals Inc. for a value of $1.7 billion at a time when silver prices have been surging.
The deal compares with SilverCrest’s market value of about $1.38 billion as of Thursday. The combined company is expected to produce about 21 million ounces of silver per year and generate about $700 million of earnings before some items in 2025, Coeur said in a statement on Friday.