Goldcorp extends Osisko offer
Goldcorp (NYSE:GG)extended its $2.6 billion offer to Osisko shareholders until March 21, 2014.
Goldcorp is offering Osisko shareholders 0.146 of a Goldcorp common share plus C$2.26 in cash for each Osisko common share.
Goldcorp kicked off the hostile bid in January. Vancouver-based Goldcorp says the unsolicited transaction offers a 15% premium over Quebec-based Osisko’s latest closing share price on Friday.
The Canadian Malartic, Osisko's only operating mine and main asset, has the potential to produce 500,000 to 600,000 ounces of gold per year over its 16-year mine life, according to the firm.
Goldcorp, along with the rest of the gold miners, is up strongly this year. Goldcorp has gained 24% since the year started.