Seeking Alpha

Osisko settles lawsuit with Goldcorp, will allow due diligence

  • Osisko Mining (OSKFF +5.1%) agrees to drop its legal effort to block Goldcorp's (GG +2.4%) hostile takeover bid, a possible sign that a rival offer may emerge.
  • Osisko says it will allow full due diligence access to its business and assets by April 1 and won’t apply its shareholder rights plan; in exchange, Goldcorp will not to take up and pay for shares deposited in the takeover bid before April 15 unless Osisko announces a transaction with another party.
  • In its own announcement, Osisko says it is aggressively pursuing alternatives, suggesting it is part of the reason for the settlement with Goldcorp.
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