Pan American Silver buying Tahoe Resources in stock-and-cash deal

By CanadianInvestor / November 14, 2018 / www.canadianinvestor.com / Article Link

VANCOUVER - Pan American Silver Corp. has signed a deal to acquire Tahoe Resources Inc. in a stock-and-cash deal it valued at more than US$1 billion.

Under the friendly agreement, Tahoe shareholders will receive US$3.40 in cash or 0.2403 Pan American shares for each Tahoe share. The maximum cash available under the offer is US$275 million and there are 56 million Pan American shares available.

Tahoe shareholders will also receive contingent value rights that will be exchanged for 0.0497 Pan American shares for each Tahoe share, payable on the first commercial shipment of concentrate following the restart of operations at the Escobal mine in Guatemala.

Tahoe shares closed C$2.90 on the Toronto Stock Exchange on Tuesday, while Pan American shares closed at C$18.71.

The deal, which is expected to close in the first quarter of 2019, requires approval by both the Tahoe and Pan American shareholders.

Tahoe shareholders will hold about a 27 per cent stake in the combined company at the closing of the deal. The contingent value rights will increase that to 32 per cent, based on the number of Pan American shares outstanding following the closing of the deal.

Companies in this story: (TSX:PAAS, TSX:THO)

The Canadian Press

Recent News

Gold stocks lead the large cap miners by far over H1/25

July 07, 2025 / www.canadianminingreport.com

Gold stocks up as the metal price and equities gain

July 07, 2025 / www.canadianminingreport.com

Mixed outlook for gold as it remains range bound for past three months

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on flat metal price

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on metal decline

June 23, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok