Pan American to Buy Tahoe Resources in $1.07 Billion Deal
Pan American Silver Corp. (PAAS) announced today that it has agreed to buy Tahoe Resources (TAHO) in a $1.07 billion cash and stock deal. Pan American will offer $3.4 in cash or 0.2403 Pan American shares for each Tahoe share. PAAS will, however, offer a maximum cash consideration of $275 million and a maximum 56 million issued shares, totaling $1.067 billion. This consideration represents a 34.9% premium to Tahoe’s share volume over the previous 20 days. After the close of the transaction, PAAS will own ~68% while TAHO will own 32% of the combined company.