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Agnico Eagle, Yamana Gold announce C$3.9B friendly takeover of Osisko

  • Yamana Gold (AUY -1.5%) and Agnico Eagle Mines (AEM -3.3%) agree to acquire Osisko Mining (OSKFF) for C$3.9B, or C$8.15/share.
  • The total offer consists of C$1B in cash, C$2.33B in AUY and AEM shares, and shares of a new company with an implied value of ~C$575M.
  • The companies say the offer represents an ~11% premium to the implied value of Goldcorp's (GG +2%) hostile bid.
  • The deal replaces a transaction announced April 2 in which AUY agreed to buy 50% of Osisko’s assets.

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