On January 26, 2010, Pan American Silver Corp. (TSX:PAA; NASDAQ:PAAS) and Aquiline Resources Inc. announced that Pan American had completed its previously announced compulsory acquisition of all outstanding common shares of Aquiline not already owned by it pursuant to section 188 of the Business Corporations Act (Ontario). As a result of the compulsory acquisition, Pan American now holds 100% of the outstanding common shares of Aquiline. The acquisition was effected by take-over bids for all of the common shares of Aquiline and for each series of Aquiline warrants and a convertible debenture. The total value implied by all of the offers was approximately $626 million, based on closing prices on October 13, 2009, the day prior to public announcement of the transaction. Aquiline holds one of the world's largest undeveloped silver deposits, the Navidad project in Argentina. The special committee of the board of directors of Aquiline was represented by John Turner, Aaron Atkinson, Kriztian Toth and Amanda Fullerton of Fasken Martineau.