IKN

Hereditary sloth instructs me

This Osisko (OSK.to) thing is getting good

Yamana Gold and Agnico Eagle Announce a Friendly Acquisition Agreement With Osisko Mining Corporation
C$8.15 per share offer provides superior shareholder value
TORONTO, ONTARIO–(Marketwired – April 16, 2014) – YAMANA GOLD INC. (TSX:YRI)(NYSE:AUY) (“Yamana”), Agnico Eagle Mines Limited (NYSE:AEM)(TSX:AEM) (“Agnico Eagle”) and Osisko Mining Corporation (TSX:OSK)(FRANKFURT:EWX) (“Osisko”) are pleased to announce that they have entered into an agreement (“the Agreement”) pursuant to which Yamana and Agnico Eagle will jointly acquire 100% of Osisko’s issued and outstanding common shares for a total consideration of approximately C$3.9 billion or C$8.15 per share. The total offer consists of approximately C$1.0 billion in cash, approximately C$2.33 billion in Yamana and Agnico Eagle shares, and shares of a new company (“Spinco”) with an implied value of approximately C$575 million.

The offer represents approximately an 11% premium to the implied value of the current Goldcorp Inc. (“Goldcorp”) hostile bid. Yamana, Agnico Eagle and Osisko will host a joint conference call today at 10:00 a.m. EDT to discuss the transaction.

Whole thing is here. Well, I thought GG would snag its prize after the last sweetener, which proves how much I know about this charade. Cannot be bad for sector consolidation strategies, however (and I have those, as I reckon there are more deals in the pipeline).
Good luck, Chuck.

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