QUEBEC – Vancouver-based Goldcorp is doing its due diligence at the Canadian Malartic gold mine in anticipation of a successful hostile takeover of owner Osisko Mining Corp. Goldcorp’s announcement comes a day after Osisko and Yamana Gold announced a deal designed to derail Goldcorp’s offer.
The Osisko-Yamana transaction will see Yamana buy a 50% share in Osisko’s mining and exploration portfolio.
“Our due diligence team is making progress, and we look forward to completing a full analysis of the team’s findings in due course,” said Chuck Jeannes, Goldcorp president and CEO. “In the meantime we will complete our analysis of the alternate scheme proposed between Osisko and a number of other parties.”
Goldcorp also said that it has extended its offer to acquire all of the common shares of Osisko until 5:00 pm EDT on April 15, 2014.
The full details of Goldcorp’s offer for Osisko are available for review on Goldcorp’s website at Goldcorp.com and at SEDAR.com.