For part of its corporate life, Coeur d'Alene Mines wanted to be something it wasn't. Coeur is a silver miner. But the last time it topped the headlines, it was in 2004, as a hostile bidder for Wheaton River. The idea behind that unsuccessful foray was to shift more of Coeur's focus and valuation to gold. Now Coeur is embracing its silver self in a $1.1-billion (U.S.) three-way merger that seems far more likely to succeed. Idaho-based Couer is tying up with Australia's Bolnisi Gold and Quebec-based Palmarejo Silver and Gold in a three-nation transaction that yields one of the world's largest silver producers. Despite the international content, the financial advisors here are all Canadian-based, a change from the global firms seen on most recent cross-border takeovers. CIBC World Markets is acting as financial advisor to Coeur. Cormark Securities is at the table with Bolnisi - that's the former Sprott Securities. Dundee Securities is financial advisor to Palmarejo, with Westwind Partners providing a valuation to the special committee at Palmarejo. On the legal front, Toronto-based Goodmans, along with Freehills, Gibson, Dunn & Crutcher and Rubio Villegas y Asociados are acting as legal counsel to Coeur. Stikeman Elliott and Dorsey & Whitney are working with Palmarejo. Bolnisi is using Minter Ellison and Dorsey & Whitney LLP are acting as legal counsel.
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