Goldcorp Inc raised its hostile takeover offer for Osisko Mining Corp on Thursday, squeaking above a white knight bid by Yamana Gold Inc and heightening a bidding war that has helped inject life into a depressed gold mining sector.Vancouver-based Goldcorp, the world's second-biggest gold miner by market value, said early on Thursday it increased its offer for Osisko by some 38 percent to about C$3.6 billion ($3.3 billion), or C$7.65 a share.Osisko is a smaller Canadian gold miner with one producing mine, Canadian Malartic in Quebec. The mine is an attractive asset as it is large and low-cost and located in a stable political jurisdiction.Goldcorp shares fell nearly 4 percent following the news, reducing the value of its cash-and-stock bid to around C$7.47 a share. Still, the offer remained around 4 percent higher than Yamana's cash-and-shares offer, based on analysts' estimates.
Yamana Gold Inc. (Yamana) is a gold producer, engaged in gold production, gold development stage properties, exploration properties and land positions in Brazil, Chile, Argentina, Mexico and Colombia. Shares of AUY fell by 1.81% or $-0.16/share to $8.67. In the past year, the shares have traded as low as $8.31 and as high as $14.45. On average, 8012100 shares of AUY exchange hands on a given day and today's volume is recorded at 12599166.
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 3.59% or $-1.0/share to $26.84. In the past year, the shares have traded as low as $21.87 and as high as $33.80. On average, 3189890 shares of G.TO exchange hands on a given day and today's volume is recorded at 4727654.
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 4.1% or $-1.05/share to $24.53. In the past year, the shares have traded as low as $20.54 and as high as $32.15. On average, 7113930 shares of GG exchange hands on a given day and today's volume is recorded at 10112190.
Osisko Mining Corporation is engaged in the business of acquiring, exploring, developing and operating gold properties, with interests substantially in Canada. Shares of OSK traded higher by 0.4% or $0.03/share to $7.58. In the past year, the shares have traded as low as $2.98 and as high as $7.96. On average, 5781490 shares of OSK.TO exchange hands on a given day and today's volume is recorded at 33080116.
Yamana Gold Inc. (Yamana) is a gold producer, engaged in gold production, gold development stage properties, exploration properties and land positions in Brazil, Chile, Argentina, Mexico and Colombia. Shares of YRI fell by 1.67% or $-0.16/share to $9.44. In the past year, the shares have traded as low as $8.86 and as high as $14.62. On average, 2368420 shares of YRI.TO exchange hands on a given day and today's volume is recorded at 7303181.
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