Thursday, January 30, 2014

Osisko Fighting Take-over Bid

Osisko Mining is taking legal action against Goldcorp.

Osisko alleges that Goldcorp misused confidential information prior to making a hostile take-over bid for the company.

Goldcorp's offer is about $2.6 billion, but Osisko calls it "opportunistic and financially inadequate."

Osisko is also in the process of mailing its recommendation to shareholders, urging them to reject the offer.