Canadian Mining Journal

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TAKEOVER: Osisko files circular, again says no to Goldcorp

MONTREAL – Osisko Mining Corp. has filed its directors' circular concerning the hostile takeover offer from Goldcorp. with Canadian securities regulatory authorities, and mailing it has begun. Once again Osisko called Goldcorp's offer...


MONTREAL – Osisko Mining Corp. has filed its directors’ circular concerning the hostile takeover offer from Goldcorp. with Canadian securities regulatory authorities, and mailing it has begun. Once again Osisko called Goldcorp’s offer “opportunistic” and recommends its shareholders reject Goldcorp’s offer.

Osisko said its board considered numerous factors including the recommendation of the special committee and opinions prepared by BMO Capital Markets and Maxit Capital LP in making its recommendations. Those reasons are appended to the circular, available on SEDAR.com and at Osisko.com.

Late breaking – Osisko announced late on Jan. 29 that it has commenced a legal proceeding against Goldcorp in the Quebec Superior Court. Osisko alleges that in making its hostile takeover bid for the company, Goldcorp misused confidential information. Osisko is seeking an order enjoining the hostile bid and further conduct by Goldcorp that Osisko alleges is in breach of the confidentiality agreement beween the two companies.