BUZZ-First Majestic Silver Corp: To buy SilverCrest Mines

Mon Jul 27, 2015 10:34am EDT
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** Canadian silver producer's shares down 10.5 pct at C$4.19; U.S.-listed shares down 10 pct at $3.23

** Shares of SilverCrest Mines Inc up 19.8 pct at C$1.15

** First Majestic to buy issued and outstanding shares of SilverCrest Mines for C$1.30 per share

** Offer represents 35.4 pct premium to SilverCrest's Friday close of C$0.96

** Current shareholders of SilverCrest to hold about 21 pct of First Majestic upon completion

** Up to Friday's close, shares of First Majestic had fallen 24 pct on the Toronto Stock Exchange this year while those of SilverCrest Mines had fallen 35 pct