Tahoe Resources to buy Rio Alto

Tahoe Resources to buy Rio Alto

Tahoe Resources to buy Rio Alto Tahoe Resources Inc. said today that it has agreed to buy Rio Alto for $1.4 billion as it looks to grow its presence in Latin America. The deal values Rio’s shares at $4 each, a 22.1 per cent premium on Friday’s closing price. Tahoe CEO Kevin McArthur will be the executive chairman of the combined firm with current Rio Alto chief executive Alex Black holding the same position in the enlarged firm.