Goldcorp to Nominate 11 Directors to Board of Osisko

Goldcorp Inc., which last week raised it’s hostile bid for Osisko Mining Corp. to C$3.23 billion ($2.94 billion), nominated 11 directors for appointment to Osisko’s board.

Goldcorp’s nominees include the Vancouver-based miner’s Chief Executive Officer Chuck Jeannes and Chairman Ian Telfer, it said today in a statement.

Osisko’s shares were halted before the start of regular trading in Toronto. No one at the Montreal-based company was immediately available for comment.

Goldcorp raised its cash-and-stock bid on April 10 in an attempt to trump a rival proposed transaction in which Yamana Gold Inc. would acquire 50 percent of Osisko’s assets. Also last week, Goldcorp lowered the minimum tender requirement on its bid to 50.1 percent of Osisko shares, which would be enough to give it voting control of the company. Goldcorp’s current offer is set to expire April 22 unless extended.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE