Pan American Silver Agnico Eagle Close 48 Billion Deal for Yamana Gold

After U.S. markets opened last Friday, Canada-based Pan American Silver Corp. (NASDAQ: PAAS) announced that it had completed its $4.8 billion acquisition of Yamana Gold (AUY). The cash-and-stock deal includes a side agreement with Agnico Eagle Mines Ltd. (NYSE: AEM) in which Pan American sold its 50% interest in Canada’s Malartic mine to Agnico Eagle. The Malartic is Canada’s largest gold mine, producing about 740,000 ounces of gold last year. The Pan American acquisition is the largest in the gold mining industry in nearly a year, reinforcing the commodities adage that when the going gets tough, the tough consolidate. Pan…