Friday, January 31, 2014

Osisko Battles Goldcorp Takeover Bid

Osisko Mining is taking a stand against a hostile 2.6-billion dollar take-over bid from Goldcorp.

The company says it's in the process of mailing its recommendation to shareholders, urging them to reject the offer.

Officials call it "opportunistic and financially inadequate".

Osisko is also taking legal action against its rival.

It alleges that Goldcorp misused confidential information prior to making the bid.