Osisko Board Asks Investors To Spurn $2.4B Goldcorp Offer

Law360, New York (January 21, 2014, 2:35 PM EST) -- The board of directors of Montreal-based Osisko Mining Corp. has rebuffed a CA$2.6 billion ($2.37 billion) takeover bid from Canadian gold producer Goldcorp Inc., unanimously recommending its shareholders to reject the offer, Osisko said Monday.

In a statement to shareholders, the Osisko board dismissed the unsolicited takeover bid, urging shareholders to reject an offer it called "financially inadequate and not in the best interests" of the company.

A special committee of the Osisko board had been reviewing Goldcorp's bid from last week, after the board initially...
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