Goldcorp raises buyout offer for Osisko to C$3.6 bln

Thu Apr 10, 2014 7:21am EDT
 
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April 10 (Reuters) - Goldcorp Inc , the world's second-biggest gold miner by market value, said on Thursday that it raised its offer to buy Osisko Mining Corp to about C$3.6 billion ($3.30 billion).

Goldcorp's new offer of to C$7.65 per Osisko share comes two days after Osisko Chief Executive Sean Roosen told Reuters that it would be tough for Goldcorp to raise its bid enough to trump a rival deal involving Yamana Gold Inc.

Osisko, also a Canadian gold miner, has rejected Goldcorp's bid as too low. Osisko earlier this month unveiled a complex "white knight" bid by fellow Canadian miner Yamana Gold for 50 percent of its assets, which represented a 22 percent premium over Goldcorp's bid at that time.

Vancouver-based Goldcorp in January launched a hostile C$2.6 billion cash and stock bid for Osisko to gain control of its Canadian Malartic gold mine in the province of Quebec. ($1 = 1.0919 Canadian Dollars) (Reporting by Ashutosh Pandey in Bangalore; Editing by Savio D'Souza)