-=Tahoe Resources (TAHO) to be acquired by Pan American Silver (PAAS) for $1.07 billion

• update 2/22/19: Pan Am Silver (PAAS) and Tahoe Resources (TAHO) today completed the previously announced transaction whereby Pan American acquired all of the issued and outstanding shares of Tahoe.

Tahoe Resources to be acquired by Pan American Silver (PAAS) for cash/stock; maximum consideration of $275 mln

• Pursuant to the Arrangement, Tahoe shareholders may elect to receive US$3.40 in cash or 0.2403 Pan American shares for each Tahoe share, subject in each case to pro-ration based on a maximum cash consideration of US$275 million and a maximum number of Pan American shares issued of 56.0 million, totaling US$1,067 million.
• The Base Purchase Price represents a premium of 34.9% to Tahoe's volume weighted average price for the 20-day period ending on November 13, 2018.
• The Board of Directors of Pan American has unanimously approved the Transaction. The Board of Directors of Tahoe, on the unanimous recommendation of a Committee of Independent Directors of Tahoe, has unanimously approved the Transaction. The Board of Directors of each of Pan American and Tahoe unanimously recommend that Pan American and Tahoe shareholders vote in favor of the Transaction.

Nov 14 (Reuters) - Pan American Silver Corp said on Wednesday it agreed to buy miner Tahoe Resources Inc for $1.07 billion in cash and stock, creating one of the world's top silver mining companies.

Pan American shareholders will own about three-fourths of the combined company, with Tahoe shareholders owning the rest in the combined company, Pan American said.

Tahoe shareholders may elect to receive $3.40 in cash or 0.2403 Pan American share for each Tahoe share held, the company said.

The base purchase price of $3.40 per share represents a premium of about 55 percent to Tahoe's last close.

The purchase price is limited to a maximum cash consideration of $275 million and a maximum issue of 56 million Pan American shares.

The deal also includes an issuance of contingent value rights to Tahoe shareholders, payable upon first commercial shipment of concentrate following restart of operations at the Escobal mine, the company said.

The total consideration, including the base purchase price and the conditional payment, is $4.10 per share.

The boards of both companies have approved the deal, the company said.

CIBC World Markets Inc is acting as lead financial adviser to Pan American and Trinity Advisors Corp is acting as financial adviser to Tahoe.

The deal is expected to close in the first-quarter of 2019.