Seeking Alpha

Osisko says Goldcorp fight getting in the way of dividend plan

  • Osisko Mining (OSKFF -3.8%) CEO Sean Roosen again urges shareholders to reject Goldcorp's (GG -2.8%) unsolicited takeover offer and adds that the bid is preventing them from getting a dividend.
  • Roosen says Osisko had set the stage for significant dividend policy for 2014, but claims that some of the money is now being spent on lawyers and bankers dealing with the legal challenge against Goldcorp.
  • TD Securities downgrades Osisko to Hold from Buy, believing there’s significant risk the Goldcorp offer will fail with an unfavorable court ruling.
  • Late Tuesday, GG extended its C$2.89B hostile bid for Osisko to March 10.
Comments (4)
  • 2839298249
    , contributor
    Comments (208) | Send Message
     
    Osisko had no plan until GG came along and made a bid. Now Roosen & Co have a bunch of ideas to increase shareholder value (and preserve their jobs). Forget that nonsense, vote with GG.
    19 Feb, 03:20 PM Reply Like
  • Malcolm Brown
    , contributor
    Comments (21) | Send Message
     
    A pathetic last ditch attempt to sway shareholders.

     

    "Oh, and then, we'll increase the dividend. And then, we'll do buybacks. Yeh, lots of buybacks. And and, if you reaaally tell GG to go jump, we'll even throw in a special dividend!
    19 Feb, 05:02 PM Reply Like
  • MrFandango
    , contributor
    Comments (10) | Send Message
     
    I suspect the previous 2 commentators are GG holders?

     

    The only thing GG gives OSK holders is a substantially limited upside on their share value if there's a boost in metal prices. Cynical opportunism on the part of GG. I have voted, and hope the majority vote the same way and aren't swayed by GG goons.
    20 Feb, 05:53 AM Reply Like
  • gray67
    , contributor
    Comments (42) | Send Message
     
    Hey Fandango......you might consider selling your OSS and buy GG while the price is right.
    22 Feb, 12:59 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|