Goldcorp extends Osisko offer once again
Goldcorp (TSX:G, NYSE:GG) extended Friday its $2.6 billion offer to Osisko (TSX:OSK) shareholders until April 4, 2014.
The Vancouver-based gold producer kicked off the hostile bid in January, and says the unsolicited transaction offers Quebec-based Osisko’s shareholders 0.146 of a Goldcorp common share plus Cdn$2.26 in cash for each Osisko common share.
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, which is seeking access to access to Osisko’s Malartic mine in Quebec, already has a gold project in the province – Éléonore, set to begin production later this year.
If it goes through, the proposed deal will make Goldcorp, which already is world's largest gold miner by market capitalization, the No. 1 gold producer in the province of Quebec.