Coeur d'Alene Mines makes C$384 mln rival bid for Orko Silver

Wed Feb 13, 2013 6:24am EST
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Feb 13 (Reuters) - Coeur d'Alene Mines Corp said it proposed to buy Orko Silver Corp for about C$384 million ($383 million), nearly two months after First Majestic Silver Corp made an offer for the company.

Orko said its board determined that Coeur's offer was a "superior proposal" to that of First Majestic.

Coeur proposes to pay C$2.70 per Orko share, a 26 percent premium to the stock's Tuesday close of C$2.14 on the Toronto Venture Exchange.