Tahoe's Escobal mine in Guatemala, which has been suspended since July 2017. Courtesy of Tahoe Resources

Shareholders at Pan American Silver and Tahoe Resources approved Pan American’s takeover plans on Tuesday, days after three activist groups requested the B.C. Securities Commission investigate both companies’ shareholder disclosures.

Ninety-five per cent of Tahoe Resources shareholders and nearly 99 per cent of Pan American shareholders approved the acquisition plans.

The companies announced the US$1.067-billion deal in November. The acquisition is expected to create the largest publicly traded silver mining company by free float capitalization.

The arrangement still needs to be approved by the Supreme Court of British Columbia and receive authorization from Mexico’s Federal Economic Competition Commission before it is finalized, but is expected to close by Feb. 26.

Last week three environmental and Indigenous-rights activist groups asked the provincial securities commission to investigate both companies’ shareholder disclosures, related to Tahoe’s Escobal mine in Guatemala. The groups claim Tahoe and Pan American have taken an overly optimistic position on Escobal’s planned re-opening, and that the companies have omitted information about local opposition to the consultation process Tahoe and the Guatemalan government have undertaken, and two subsequent lawsuits filed against the company.