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Takeover target Osisko Mining says the hostile bid from Goldcorp is opportunistic.
Takeover target Osisko Mining says the hostile bid from Goldcorp is opportunistic.
(BEN NELMS/REUTERS)

Goldcorp bid price means big dilution for Osisko investors

Osisko Mining Corp. says the hostile bid it just got from Goldcorp Inc. is opportunistic, and numbers run by the bankers at Morrison Park Advisors back that up.

Morrison Park is an independent advisory firm http://www.morrisonpark.com/our-business and is not working for either side. Stephen Altmann, a managing director at the firm, looked at the deal and found that in pretty much every way, the bid price leaves Osisko shareholders at a disadvantage, especially if they want pure gold exposure.