Likely the Silvercorp share price will sell off tonight on the...

Likely the Silvercorp share price will sell off tonight on the TSX and therefore the implied offer price will drop.

Something to be aware of is that silver producers in the US and Canada usually trade at significant premium to gold producers. There's a real potential that this deal will 'dilute' the silver premium from Silvercorp. And looking at the level of production and cashflow for Silvercorp, if it were a gold producer it'd probably be about half the market cap.

When Fortuna Silver bought Roxgold (West Africa) in 2021 the Fortuna share price got savaged because the company was becoming more of a gold producer and was taking on perceived African risk, which a lot of North American investors aren't comfortable with (even more so than Australian investors I think).