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First Majestic bides time after Coeur d’Alene makes rival bid for Orko Silver

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The corporate logo for First Majestic Silver Corp. (TSX:FR) is shown. THE CANADIAN PRESS/HO

VANCOUVER – First Majestic Silver Corp. (TSX:TF) says it’s considering whether to match a rival offer for Orko Silver Corp. (TSXV:OK) from Coeur d’Alene Mines Corp. Under a friendly deal in December, First Majestic will receive an $11.6-million break fee if Orko accepts a superior offer. First Majestic also has the right to match a superior offer within five days of notification. Orko announced Wednesday that Coeur d’Alene (NYSE:CDE) is offering cash and shares with an implied value of C$2.70 per share — 25 per cent above First Majestic’s initial bid.

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