First Majestic Silver (AG) has closed the acquisition of Gatos Silver (GATO), the companies said Thursday.
Gatos shareholders will receive 2.55 common shares of First Majestic for each common share of Gatos they hold and cash instead of fractional First Majestic shares, according to the joint statement.
The companies said in September that the deal implies a total offer value of $13.49 for each Gatos share and a total equity value for Gatos of about $970 million.
Gatos Silver is now a wholly owned subsidiary of First Majestic and its stock will be delisted from the New York Stock Exchange and Toronto Stock Exchange, the companies added.
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