Dallas, TX 1/23/2012 11:31:03 PM
News / Stocks

Minefinders Shares Soar after Company Agrees to be Acquired by Pan American Silver (MFN, PAAS)

Shares of Minefinders Corporation Ltd. (AMEX: MFN) are seeing a huge rally in trading today after the company agreed to be acquired by Pan American Silver Corp. (NASDAQ: PAAS). The combination of Pan American and Minefinders would create a leading growth-oriented, geographically-diversified silver producer.

Minefinders shares rose to an intra-day high of $14.60 in trading today, and at last check, the stock was up more than 24% on above average volume. The rally has pushed Minefinders shares above their 50-day and 200-day moving averages.

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