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TORONTO Jan 29 Osisko Mining said on Wednesday it has sued Goldcorp Inc in an attempt to foil the gold miner's C$2.6 billion ($2.33 billion) hostile bid, alleging that its suitor misused confidential information.
The lawsuit, which is a fairly common defensive measure used by companies facing hostile bids, comes barely two weeks after Vancouver-based Goldcorp launched its unsolicited takeover bid, aimed at gaining control of Osisko's huge Malartic gold mine in Quebec.
Montreal-based Osisko in the lawsuit filed in Quebec alleged that Goldcorp misused confidential information and otherwise acted in a manner not permitted by the confidentiality agreement between the parties
Osisko has already advised its shareholders to reject the bid.