Rio Alto and Toronto Stock Exchange

Toronto Stock Exchange: Rio Alto stock gained 34 cents to $3.62 on the Toronto Stock Exchange shortly after the market opened while Tahoe shares dropped $1.49 to $16.15. , according to Canadian Broadcasting Corporation. Under the proposal, Rio Alto shareholders will receive 0.227 of a Tahoe share and one-tenth of a cent cash per share, making the offer worth about $4 per share based on Tahoe share price before the deal was announced. Rio Alto Mining shares jumped 10 per cent in early trading Monday after it agreed to a friendly takeover by Tahoe Resources Inc. which would become a mid-sized silver and gold producer focused on Latin America. Tahoe friendly offer valued Rio Alto at about $1.3 billion, based on Friday stock prices for the two companies. (news.financializer.com). As reported in the news.