Goldcorp Awaits Filing Of Osisko Directors' Circular

(RTTNews) - Canadian gold miner Goldcorp Inc. (G.TO, GG) said late Monday that it has reviewed the press release issued earlier this morning by Osisko Mining Corp. (OSK.TO) regarding Goldcorp's offer to Osisko shareholders. 

Goldcorp said it plans to respond fully following the filing of the Osisko Directors' Circular.

Earlier Monday, Osisko Mining said its Board has recommended that the company's shareholders reject the hostile take-over bid launched by Goldcorp Iand not tender their shares to the offer. The Special Committee and the Board have concluded that the offer is financially inadequate and not in the best interests of Osisko.

On January, 13, Goldcorp announced an offer to acquire Osisko for C$5.95 per share in cash and shares.  Under the terms of the offer, Osisko shareholders will be entitled to receive 0.146 of a Goldcorp common share plus C$2.26 in cash for each Osisko common share. The offer represents a premium of 28% over the 20-day volume-weighted average share price of Osisko from all trading on Canadian exchanges for the period ending January 10.  

The offer is open for acceptance until 5:00 p.m. EST on February 19, unless extended or withdrawn.