Goldcorp Raises Bid for Osisko Mining to $3.6 Billion

The Vancouver Sun reported that Goldcorp Inc. (TSX:G) has raised its bid for Osisko Mining Corp. (TSX:OSK) to $3.6 billion, or $7.65 per share, up from Goldcorp’s initial offer of $2.6 billion in January. According to the Sun, Osisko has been resisting hostile takeover moves from Goldcorp and struck a friendly deal last week with Yamana Gold (TSX:YRI) and two Canadian pension funds.

As quoted in the publication:

That deal would see Yamana acquire a 50 per cent stake in Osisko’s operations and exploration assets, but the gold miner would remain an independent company.

Under Goldcorp’s latest proposal, Osisko shareholders would receive $2.92 cash and 0.17 of a Goldcorp common share in the new proposal.

Click here to read the full Vancouver Sun article.