Entering text into the input field will update the search result below

Reuters: Tahoe Resources $1B bought deal draws tepid demand

Jun. 16, 2015 7:17 PM ETTahoe Resources Inc. (TAHO) StockNEM, TAHOBy: Carl Surran, SA News Editor13 Comments
  • Tahoe Resources (NYSE:TAHO) tumbled more than 9% in today's trade on lukewarm investor demand for nearly C$1B worth of the mining company's stock, Reuters reports, citing industry sources.
  • Goldcorp (NYSE:GG) announced late Monday it would sell its 25.6% stake in TAHO for C$998M (US$811M) in a bought deal, but joint book runners GMP Securities and BMO Capital Markets reportedly had some difficulty placing the stock at the offering price of C$17.20/share.
  • A TAHO spokesperson said "a near $1B deal doesn't materialize in a day," but that the company had heard the offering was going well and could take a few days for the placement to be completed.
  • This would not be the first large mining industry bought deal to struggle in recent months, as investment banks had some trouble finding buyers for an $800M stock offering in March by Silver Wheaton.

Recommended For You

Related Stocks

SymbolLast Price% Chg
TAHO--
Tahoe Resources Inc.
To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.