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BRIEF-Pan American Silver Says Definitive Agreement To Acquire All Outstanding Shares Of Tahoe Resources

Published 2018-11-14, 03:53 a/m
Updated 2018-11-14, 04:00 a/m
BRIEF-Pan American Silver Says Definitive Agreement To Acquire All Outstanding Shares Of Tahoe Resources

BRIEF-Pan American Silver Says Definitive Agreement To Acquire All Outstanding Shares Of Tahoe Resources

Nov 14 (Reuters) - Pan American Silver Corp PAAS.TO :

* PAN AMERICAN SILVER AND TAHOE RESOURCES CREATE THE WORLD'S PREMIER SILVER MINING COMPANY

* ENTERED INTO A DEFINITIVE AGREEMENT FOR PAN AMERICAN TO ACQUIRE ALL OF OUTSTANDING SHARES OF TAHOE

* SHAREHOLDERS OF TAHOE ENTITLED TO ELECT TO RECEIVE COMMON SHARES OF CO AND/OR CASH IN EXCHANGE FOR THEIR SHARES OF TAHOE

* TAHOE SHAREHOLDERS MAY ELECT TO RECEIVE US$3.40 IN CASH OR 0.2403 PAN AMERICAN SHARES FOR EACH TAHOE SHARE

* DEAL'S BASE PURCHASE PRICE $1,.07 BILLION

* PAN AMERICAN SILVER- TAHOE SHAREHOLDERS TO RECEIVE CONTINGENT CONSIDERATION IN FORM OF CONTINGENT VALUE RIGHTS

* CONTINGENT VALUE RIGHTS WILL BE EXCHANGED FOR 0.0497 PAN AMERICAN SHARES FOR EACH TAHOE SHARE, CURRENTLY VALUED AT $221 MILLION

* BOARD OF DIRECTORS OF PAN AMERICAN HAS UNANIMOUSLY APPROVED TRANSACTION

* BOARD OF DIRECTORS OF TAHOE UNANIMOUSLY APPROVED TRANSACTION

* TOTAL CONSIDERATION, INCLUDING BASE PURCHASE PRICE AND CONTINGENT PURCHASE PRICE, IS US$4.10 PER TAHOE SHARE

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