Deals
Coeur d’Alene Trumps First Majestic Takeover Offer for Orko
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Coeur d’Alene Mines Corp., an Idaho-based silver producer, offered to buy Orko Silver Corp. for C$379.9 million ($379 million) in cash and shares in an attempt to trump a rival bid from First Majestic Silver Corp.
The offer values Orko at C$2.70 a share, a 26 percent premium to First Majestic’s all-stock bid based on yesterday’s closing price, according to Bloomberg calculations. First Majestic has until midnight Pacific time on Feb. 19 to match the proposal, which Orko’s board has determined is superior, Coeur d’Alene said in a statement today.