Goldcorp extends bid deadline for Osisko, will study Yamana proposal

|About: Goldcorp Inc. (GG)|By:, SA News Editor

Goldcorp (GG -1.5%), whose C$2.6B hostile bid for Osisko Mining (OSKFF -1.7%) was set to expire this Friday, says it is extending its offer until April 15 while it continues its due diligence process at Osisko’s Malartic mine in Quebec.

In an attempt to thwart Goldcorp's offer, Osisko said Yamana Gold (AUY -1.5%) would buy a 50% stake in its mining and exploration assets for C$930M, and GG says it plans to complete an analysis of yesterday's proposal.

GG agreed last month not to take up and pay for shares that were deposited in favor of its bid before April 15, as part of a settlement with Osisko.