Miner Tahoe Resources to buy Lake Shore Gold in C$945 mln deal

Mon Feb 8, 2016 7:14am EST
 
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Feb 8 (Reuters) - Canadian miner Tahoe Resources Inc said it would buy peer Lake Shore Gold Corp in a stock deal valued at C$945 million ($679.32 million) to add low-cost gold operations to its portfolio.

Tahoe will pay 0.1467 of its stock for each Lake Shore Gold share. The offer works out to C$1.71, representing a 15 percent premium to Lake Shore shares, based on both stocks' Friday close. ($1 = 1.3911 Canadian dollars) (Reporting by Swetha Gopinath in Bengaluru; Editing by Shounak Dasgupta)