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

|About: Agnico Eagle Mines Limited (AEM)|By:, SA News Editor

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.