Goldcorp Inc. Chief Executive Officer Chuck Jeannes says he hasn’t seen any opposition from Quebec to his company’s C$3 billion ($2.7 billion) hostile bid for Montreal-based Osisko Mining Corp.
Goldcorp has met with Quebec officials, who have been very supportive and recognize the Vancouver-based company is a large investor in the province, Jeannes said. He spoke today in an interview in Hollywood, Florida, where he’s attending a mining and metals conference organized by BMO Capital Markets.
Quebec Finance Minister Nicolas Marceau has proposed amendments to the province’s Business Corporations Act that would give public companies “adequate means of defense” against unsolicited bids. The measures are aimed at keeping head-office jobs that help generate C$5 billion in economic activity, according to his budget released Feb. 20.
Jeannes said today that the proposed measures wouldn’t affect Osisko because it’s incorporated under Canadian legislation, not Quebec legislation.