Peter Marrone has few regrets as he prepares to exit Yamana Gold after a nearly 20-year run – by Niall McGee (Globe and Mail – November 17, 2022)

Peter Marrone has few regrets as he prepares to walk away from the big Canadian gold mining company he founded and is now poised to sell to a pair of Canadian precious metals companies.

Last week, Toronto-based Yamana YRI-T agreed to sell itself to Agnico Eagle Mines Ltd. and Pan American Silver Corp. for US$4.8-billion. That offer topped an earlier and deeply unpopular bid by South African miner Gold Fields Ltd., which was originally worth US$6.7-billion.

Owing to the poor performance in Gold Fields shares in the months that followed the May deal, the value dwindled to US$4.2-billion by the time Agnico and Pan American swooped in.

While Yamana had been open to being acquired by Agnico and Pan American months ago, and potentially avoiding all of the drama, Mr. Marrone said in an interview on Wednesday that he had little choice but to go with Gold Fields originally.

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