- Goldcorp (GG +0.5%) is offering C$2.26 a share in cash and 0.146 share in stock.
- The offer values Osisko Mining (OSKFF) at C$5.95 a share, or a premium of 15% over its Friday closing price in Toronto.
- The proposal is conditional on acceptance by two-thirds of Osisko's shareholders by Feb. 19.
- It doesn't look like Goldcorp has the acceptance of Osisko's board, with Goldcorp saying that "Our clear preference remains to engage with Osisko." The Canadian company also has a shareholder rights plan.
- The deal will provide Goldcorp with ~10M oz. in gold reserves.
- The transaction is "immediately accretive on key per-share metrics, including free cash flow, operating cash flow, net asset value, gold production and gold reserves," GG says.
- Goldcorp will receive cash that it can use to develop "key growth projects at Cerro Negro, Éléonore and Cochenour over the next 18 months." (Previous) (PR)
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