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Stock Market & Financial Investment News

News Breaks
January 20, 2014
20:12 EDTGGOsisko Mining recommends holders reject Goldcorp takeover bid
Osisko Mining announces that its board, on the recommendation of its Special Committee, unanimously recommends that Osisko shareholders reject the hostile takeover bid launched by Goldcorp (GG) on January 14. The company said in part, "Goldcorp’s Offer significantly undervalues Osisko’s world-class Canadian Malartic mine, and the rest of the Company’s portfolio of high-potential projects in North America. The premium offered by Goldcorp, as well as the transaction multiples implied by the offer, are both significantly below the relevant precedents...It is important to note that, while Osisko has had several preliminary discussions with Goldcorp over the past five years, those discussions have never led to a credible proposal from Goldcorp. Instead, Osisko has been presented with highly conditional and non-binding proposals that offered inadequate premiums, and value propositions which did not warrant further consideration or engagement by Osisko. The current Goldcorp Offer implied a meager 15% premium at the time of announcement and is significantly less today."
News For GG From The Last 14 Days
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November 25, 2014
05:07 EDTGGGoldcorp signs Resource Development Agreement with four First Nation communities
Goldcorp announced that Porcupine Gold Mines has signed a Resource Development Agreement with four First Nation communities including Mattagami First Nation, Wahgoshig First Nation, Matachewan First Nation and Flying Post First Nation. The agreement establishes a framework for continued consultation on existing and future operations in the Timmins area and defines long-term benefits for the four First Nation communities. Under the agreement, Goldcorp recognizes and respects Aboriginal rights and interests in the area of the Porcupine Gold Mines operation and the four First Nation communities recognize and support Goldcorp's rights and interests in the operation and future development of the mine. The agreement also reflects Goldcorp's commitment to protecting the environment and supporting Aboriginal social and cultural practices in a spirit of continued collaboration.
November 21, 2014
05:58 EDTGGGoldcorp implied volatility of 41 at upper end of index mean range
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