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David and Goliath both claim victory, MAG Silver VS Fresnillo 2011
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The relationship between Fresnillo and MAG Silver does not appear to be getting any friendlier, as sparring - and spinning - continues over the outcome of ICC arbitration.

In the latest twist of the legal saga pitting giant Fresnillo, the world's largest primary silver producer, against junior MAG Silver (TSX: MAG), both declared victory in battle, following a decision handed down by the International Court of Arbitration of the International Chamber of Commerce (ICC).

Bad blood between the two harkens back to Fresnillo's failed takeover bid for MAG Silver in 2008. The prize, for the most part, was MAG Silver's 44-percent stake in the Juanicipio joint-venture in Mexico, which, if the deal had succeeded, would have allowed Fresnillo to consolidate its ownership of Juanicipio by adding to the 56-percent stake it had already acquired in 2007 when MAG Silver was under financial duress.

But the bid, tendered at a discount to MAG Silver's shareprice the day previous, wasn't to be. Dan MacInnis, MAG Silver's CEO, balked at the offer from Fresnillo, calling it a take-under bid. He noted in late 2008, "This may be the first time in history that a hostile bidder has announced a bid at a price lower than the closing market price of the target's shares on the trading day prior to announcement."....more