Goldcorp extends bid deadline for Osisko

April 3 Thu Apr 3, 2014 9:29am EDT

Related Topics

April 3 (Reuters) - Goldcorp Inc, whose C$2.6 billion ($2.36 billion) hostile bid for Osisko Mining Corp was set to expire on Friday, said it had extended its offer until April 15.

In an attempt to thwart Goldcorp's offer, Osisko Mining said on Wednesday that Yamana Gold Inc would buy a 50 percent stake in its mining and exploration assets for C$930 million.

Goldcorp said on Thursday that it was continuing its due diligence process at Osisko's huge Malartic gold mine in the province of Quebec -- an asset that has made Montreal-based Osisko an attractive buy.

Vancouver-based Goldcorp agreed last month not to take up and pay for shares that were deposited in favor of its bid before April 15, as part of a settlement with Osisko. ($1 = 1.1038 Canadian Dollars) (Reporting by Swetha Gopinath in Bangalore; Editing by Maju Samuel)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.