Pan American Silever to Buy Minefinders for $1.49 Billion

Pan American Silver Corp., a miner of the metal in Latin America, agreed to buy Minefinders Corp. for about $1.49 billion to expand production and add reserves in Mexico. Pan American Chief Executive Officer Geoff Burns said in the statement that "“This acquisition is logical and consistent with Pan American’s vision to become the largest, low-cost primary producer of silver in the world,”. 

Shares of Minefinders rose 27 percent as of 8:41 a.m. in Toronto.