Pan American Silver, a mining company, and Agnico Eagle, a gold producer, completed the acquisition of Yamana Gold, a Canadian-based precious metals producer, for $6.7bn. "This acquisition is transformative for Pan American, significantly increasing the scale of our operations in Latin America where we have been operating for nearly three decades. We expect a material increase in our production of silver and gold, while we continue to provide a preferred way to invest in silver through large silver mineral reserves and growth opportunities, further enhanced by the increase in our market capitalization and trading liquidity. The acquisition is firmly aligned with our strategy of creating value by pursuing attractive growth opportunities, improving operating margins and extending mine life," Michael Steinmann, Pan American President and Chief Executive Officer. On November 4, 2022, Pan American Silver and Agnico Eagle join as bidders offering $6.7bn for Yamana. On November 8, 2022, Yamana determined thet Pan American Silver and Agnico Eagle takeover offer was superior to an earlier bid by Gold Fields. On November 8, 2022, Yamana Gold terminates the acquisition by Gold Fields.