Osisko says Goldcorp fight getting in the way of dividend plan

|About: Osisko Mng Inc (OBNNF)|By:, SA News Editor

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.