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ISS, Glass Lewis urge Tahoe shareholders vote for Pan American Silver deal

Independent proxy advisory firms Institutional Shareholder Services Inc. and Glass Lewis & Co. LLC have recommended that shareholders of Tahoe Resources Inc. vote in favor of Pan American Silver Corp.'s proposed takeover.

In November, Pan American entered into an agreement to acquire Tahoe in a cash and stock deal worth about $1.07 billion.

ISS said the deal "makes strategic sense" because Pan Pacific is a "well-established" company in the same industry, while Glass Lewis said the proposed merger is in the best interests of shareholders, according to the Tahoe release.

Shareholders will vote on the deal at a special meeting scheduled for Jan. 8, 2019.