Oat_Phawat/iStock via Getty Images
South African miner Gold Fields (NYSE:GFI) through a 100% owned Canadian subsidiary has agreed to acquire all the issued and outstanding common shares of Osisko Mining (TSX:OSK:CA) at a price of C$4.90 per share in an all-cash transaction valued at about C$2.16 billion, it said on Monday.
The transaction will be completed by way of a statutory plan of arrangement under the Business Corporations Act (Ontario).
“As our joint venture partner at Windfall, Gold Fields (GFI) knows the asset well and understands the significance of the strong relationships that we have built in Québec with all of our stakeholders,” Osisko’s (OSK:CA) Chairman and Chief Executive Officer, John Burzynski said.
The all-cash offer is not subject to a financing condition, provides an immediate premium for Osisko shareholders, and removes future dilution, commodity, construction and execution risk, the company said.
Gold…
