MAG mystified by “take-under” offer

Silver Investing News reports MAG Silver Corp. rose 13 per cent after Fresnillo PLC, world’s biggest primary silver reported its take-over for MAG Silver. 

The senior silver producer is offering MAG US$4.54 a share for complete ownership. Earlier this year, Fresnillo purchased a 19.8 per cent stake in MAG, its joint venture partner on the Juanicipio deposit in Mexico. Currently, MAG owns 44 per cent of the Minera Juanicipio silver mines and Fresnillo, the project operator, owns the remaining 56 per cent.

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