Osisko settles lawsuit with Goldcorp, will allow due diligence

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

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.