Battle For Orko Silver OK.V

The paper battle is on between First Majestic FR.TO and Coeur D'Alene Mines for Orko Silver.

The prize, La Preciosa Project or 110 million ounces of silver.

The currency, what ever your stock is trading at today.

 

Orko Silver Corp. has received a binding proposal from Coeur D'Alene Mines Corp. for the acquisition by Coeur of all of the issued and outstanding common shares of Orko by way of a plan of arrangement. The Board of Directors of Orko (the "Orko Board") has unanimously determined, after receiving the advice of its financial and legal advisors, that the Coeur Proposal constitutes a "Superior Proposal" pursuant to the arrangement agreement between Orko and First Majestic Silver Corp. ("First Majestic") originally announced on December 16, 2012 (the "First Majestic Agreement") and has provided notice of such determination to First Majestic.
Under the terms of the Coeur Proposal, Orko shareholders may elect to receive in exchange for each Orko Share:
-- 0.0815 common shares of Coeur ("Coeur Shares") and C$0.70 cash and 0.01118 warrants to purchase Coeur Shares ("Coeur Warrants"); -- 0.1118 Coeur Shares and 0.01118 Coeur Warrants, subject to pro-ration as to the number of Coeur Shares if the total number of Coeur Shares elected by Orko shareholders exceeds approximately 11.6 million; or -- C$2.60 in cash and 0.01118 Coeur Warrants, subject to pro-ration as to the amount of cash if the total cash elected by Orko shareholders exceeds C$100 million.
If all Orko shareholders were to elect either the all cash (and Coeur Warrants) or the all share (and Coeur Warrants) alternative, each Orko shareholder would receive 0.0815 Coeur Shares and C$0.70 in cash, together with 0.01118 Coeur Warrants, for each Orko Share. Each whole Coeur Warrant will be exercisable for one Coeur Share for a period of four years at an exercise price of US$30.00, all subject to adjustment in accordance with the terms of the Coeur Warrants.

 Good for Gary Cope for extracting the best deal for the shareholders.

I do not own shares of Orko or Coeur D'Alene but have a position in First Majestic.