Coeur d’Alene Mines Corp. (NYSE: CDE, TSX: CDM) has closed a $382 million deal for Orko Silver Corp.
The company bid on the company after First Majestic Silver Corp. had made an offer – but Orko determined Coeur’s offer was better. First Majestic withdrew from the process in February.
Vancouver-based Orko develops silver deposits and is currently working on a project in Durango State, Mexico, which Coeur plans to develop.
Coeur is a silver and gold producer based in Coeur d’Alene, Idaho. It has precious metal mines in the Americas, Mexico and Bolivia. The price of silver and gold are both down, which could mean now is a good time to invest in the commodity.
JP Morgan is Coeur’s financial adviser, while Fasken Martineau DuMoulin LLP and Gibson Dunn & Crutcher LLP are the company’s legal counsel.