Canada's Osisko Mining Corp said on Wednesday it has reached a C$3.9 billion ($3.6 billion) deal to sell most of its assets to Yamana Gold Inc and Agnico Eagle Mines Ltd as it battles to thwart a hostile takeover bid from Goldcorp Inc, one of the world's biggest gold miners.Osisko said the implied value of the new deal is C$8.15 a share, an 11 percent premium to the implied value of a sweetened offer that was announced by Goldcorp last week.The new white knight deal replaces a more complex earlier proposal that involved a 50 percent sale of Osisko's assets to Yamana, along with a cash infusion from two Canadian pension funds - Canada Pension Plan Investment Board (CPPIB) and Caisse de depot et placement du Quebec."In our opinion the complexity of this new offer is far less than that of the previously announced Yamana partnership, and we believe this new bid will be well regarded by shareholders," Desjardins analyst Michael Parkin said in a note to clients.
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 3.16% or $-0.265/share to $8.12. In the past year, the shares have traded as low as $8.20 and as high as $12.75. On average, 7896400 shares of AUY exchange hands on a given day and today's volume is recorded at 6875084.
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 traded higher by 2.04% or $0.53/share to $26.53. In the past year, the shares have traded as low as $21.87 and as high as $33.80. On average, 3143220 shares of G.TO exchange hands on a given day and today's volume is recorded at 1712300.
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 traded higher by 1.48% or $0.35/share to $24.06. In the past year, the shares have traded as low as $20.54 and as high as $32.15. On average, 6873370 shares of GG exchange hands on a given day and today's volume is recorded at 4127056.
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 6.46% or $0.48/share to $7.91. In the past year, the shares have traded as low as $2.98 and as high as $7.96. On average, 5218330 shares of OSK.TO exchange hands on a given day and today's volume is recorded at 30584472.
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 2.51% or $-0.23/share to $8.95. In the past year, the shares have traded as low as $8.86 and as high as $13.87. On average, 2395610 shares of YRI.TO exchange hands on a given day and today's volume is recorded at 4359075.
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