MONTREAL – Osisko Mining Corp. (TSX:OSK) says a hostile takeover bid for the company by Vancouver-based Goldcorp Inc. (TSX:G) is “very low” and opportunistic.
Osisko says its board is committed “to delivering superior value for shareholders and all stakeholders” and will pursue all initiatives to that end.
READ MORE: Goldcorp offering to buy Osisko in stock and cash deal worth $2.6B
The Quebec-based company urged shareholders to hold off from accepting the $2.6-billion offer until the board makes a recommendation on the proposal.
The board has formed a special committee including five independent members to review the offer.
Osisko shares have traded well above the $5.95 implied value of the Goldcorp offer since the stock-and-cash proposal was first announced.
Analysts have suggested that Goldcorp will have to raise its offer if it wants to close the deal.
- Surrey hospital won’t have emergency team for parts of May long weekend, doctor claims
- Vancouver Island residents question new supportive housing location
- B.C. daycare operator says provincial red tape could close facility
- Canada to race in first-ever women’s America’s Cup with Vancouverite at the helm
Comments