VANCOUVER – Goldcorp Inc. (TSX:G) is making a $2.6-billion takeover play for Montreal-based Osisko Mining Corp. (TSX:OSK).
The Vancouver-based mining giant is offering a combination of stock and cash that values Osisko at C$5.95 per share – about 15 per cent above the stock’s value at the end of last week.
Osisko hasn’t commented publicly on whether its board supports the takeover offer, which is being made directly to Osisko shareholders.
Goldcorp is one of the Canada’s largest gold producers and says the acquisition of Osisko would provide it with a major mine in Quebec and other assets with growth potential.
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Under Goldcorp’s offer, Osisko shareholders will be entitled to receive 0.146 of a Goldcorp common share plus C$2.26 in cash for share.
Goldcorp shares closed Friday at $25.29 at the Toronto Stock Exchange, giving the company a market value of about $20.5 billion.
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