Coeur Mining (CDE) has agreed to acquire SilverCrest Metals (SILV) in an all-share transaction valued at about $1.7 billion, the companies said Friday.

Under the terms of the deal, SilverCrest shareholders will receive about 1.6 Coeur shares for each SilverCrest share they own, implying a price of $11.34 per SilverCrest share.

On completion of the transaction, expected in Q1, Coeur stockholders will hold about 63% of the combined company and SilverCrest the rest, the companies said.

SilverCrest shares rose more than 10% in recent premarket activity and Coeur shares were up more than 1%.

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