Goldcorp offering to buy Osisko in stock and cash deal with $2.6 billion

A Goldcorp sign is pictured at the annual meeting in Toronto on May 2, 2013. THE CANADIAN PRESS/Aaron Vincent Elkaim

January 13, 2014 - 6:27 AM

VANCOUVER - Goldcorp Inc.is making a $2.6-billion (US$2.4 billion) takeover play for fellow Canadian gold company Osisko Mining Corp.

Goldcorp, one of Canada's largest gold producers, offered Monday a combination of stock and cash that values Osisko at $5.95 Canadian (US$4.47) per share. That's about 15 per cent Friday's closing price.

Osisko hasn't commented publicly on whether its board supports the takeover offer, which is being made directly to Osisko shareholders. Osisko has an operating mine in northern Quebec and other projects in Ontario.

The acquisition of Osisko would provide Vancouver, British Columbia-based GoldCorp with a major mine in Quebec and other assets with growth potential.

News from © The Associated Press, 2014

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Goldcorp offering to buy Osisko in stock and cash deal with $2.6 billion

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