Goldcorp Inc commenced its formal bid for Osisko Mining Corp on Tuesday, saying that it chose to proceed with the unsolicited offer following a long series of frustrated attempts to engage Osisko in discussions about a possible deal. In a takeover bid circular, filed with securities regulators on Tuesday, Goldcorp gave details of a series of attempts since 2008 to reach a friendly deal with Osisko.Goldcorp announced it was launching an unsolicited cash-and-stock bid to acquire its smaller rival Osisko for C$2.6 billion ($2.4 billion) on Monday. If successful, the takeover will give Goldcorp control of Osisko's huge Malartic gold mine in Quebec, along with other assets.Vancouver-based Goldcorp said it opted to proceed with the unsolicited offer only after having "made repeated and genuine attempts to discuss a mutually beneficial transaction."Goldcorp said Osisko's management has continually refused to either negotiate, or engage in meaningful dialogue, leading to the current circumstances.
Goldcorp Inc. (Goldcorp) is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico and Central and South America. Shares of G fell by 1.64% or $-0.41/share to $24.63. In the past year, the shares have traded as low as $21.87 and as high as $38.33. On average, 3018070 shares of G.TO exchange hands on a given day and today's volume is recorded at 1668807.
Goldcorp Inc. (Goldcorp) is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico and Central and South America. Shares of GG fell by 2.3% or $-0.53/share to $22.52. In the past year, the shares have traded as low as $20.54 and as high as $38.61. On average, 7830240 shares of GG exchange hands on a given day and today's volume is recorded at 3555129.
Osisko Mining Corporation is engaged in the business of acquiring, exploring, developing and operating gold properties, with interests substantially in Canada. Shares of OSK fell by 0.48% or $-0.03/share to $6.21. In the past year, the shares have traded as low as $2.98 and as high as $8.05. On average, 3621060 shares of OSK.TO exchange hands on a given day and today's volume is recorded at 7978669.
Source
