TORONTO (miningweekly.com) – Idaho-based miner Coeur d’Alene Mines has completed its $382-million cash-and-stock takeover of Canadian miner Orko Silver.
Coeur on Tuesday said it had paid a total of C$100-million in cash and issued a total of 11.57-million common shares of Coeur and 1.59-million warrants to acquire common shares of Coeur.
The company in February made an offer to buy Orko for C$384-million, after Orko initially agreed to a takeover deal by First Majestic.
“We are excited to complete the acquisition of Orko and look forward to developing La Preciosa into a world-class silver mine that generates an attractive rate of return for shareholders over a long mine life,” Coeur president and CEO Mitchell J Krebs said.
Coeur shares traded 1.62% lower at C$15.17 apiece on Wednesday morning.
Edited by: Creamer Media Reporter
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