Osisko asks shareholders for patience, says Goldcorp bid blocked until April 15

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

Osisko Mining (OSKFF +0.3%) urges patience from its shareholders and says it is still pursuing a range of alternative to Goldcorp's (GG +0.4%) hostile C$2.89B takeover offer, a day after Goldcorp said it is extending its offer to acquire all of Osisko’s shares to March 21.

Osisko countered with a statement reminding its shareholders that a settlement agreement between the two companies stipulates that Goldcorp cannot take up and pay for any Osisko shares deposited to its bid before April 15.

Osisko shares have been trading well above the implied value of Goldcorp’s offer since the bid was announced Jan. 14.