Deals
Pan American Agrees to Buy Silver Miner for $1.1 Billion
- Tahoe takeover draws fire from analyst during conference call
- Merged company will take time to decide non-core asset fate
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Pan American Silver Corp. agreed to buy Tahoe Resources Inc. for at least $1.07 billion in a cash and stock deal, sending the shares in the embattled precious-metals mining company soaring.
Reno, Nevada-based Tahoe climbed as much as 49 percent, from a record low on Tuesday. The company has been struggling in the past year as silver declined and its efforts to restart its flagship Escobal silver mine in Guatemala dragged on amid a dispute over indigenous rights.