Osisko Sues Goldcorp To Halt $2.3B Hostile Takeover Bid

Law360, New York (January 30, 2014, 1:46 PM EST) -- Montreal-based Osisko Mining Corp. said Wednesday it has filed a lawsuit to stop a hostile takeover bid by Goldcorp Inc. alleging the competing mining company misused confidential information in making its takeover attempt.

The Osisko board of directors last week unanimously rejected Vancouver-based Goldcorp’s CA$2.6 billion ($2.33 billion) offer recommending shareholders not to tender their shares.

Osisko said it has filed a lawsuit in Quebec Superior Court to enjoin Goldcorp’s bid alleging the company violated their confidentiality agreement and acted in bad faith before making its...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.