Osisko rejects Goldcorp's unsolicited takeover bid

TORONTO, Jan 20 (Reuters) - Osisko Mining Corp OSK.TO on Monday rejected an unsolicited C$2.6 billion ($2.37 billion) takeover bid from its larger rival Goldcorp Inc G.TO , saying the offer was financially inadequate and not in the best interests of its shareholders.

"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," Osisko said in a statement. News Search ID:nL2N0KP0RC

News Search ID:nL2N0KN19T

The company advised its shareholders to reject the hostile bid and not tender their shares into the Goldcorp offer.

($1 = 1.0951 Canadian dollars)

(Reporting by Euan Rocha; Editing by Chizu Nomiyama)

((euan.rocha@thomsonreuters.com)(+1 416 941 8185)(Reuters Messaging: euan.rocha.reuters.com@reuters.net))

Keywords: OSISKOMINING OFFER/GOLDCORP

Jan 20 (Reuters) - Osisko Mining Corp OSK.TO :

* Board recommends shareholders reject goldcorp's opportunistic hostile offer

* Says "offer is financially inadequate and not in the best interests of

Osisko"

* Says board, on the recommendation of its special committee, unanimously

recommends that shareholders reject Goldcorp bid

* Goldcorp offer has been opportunistically timed to occur before Canadian

malartic enters what co expects will be most productive years

* Says "board of directors is aggressively pursuing value-maximizing

alternatives"

* Board "is concerned about the fact that the Goldcorp offer is highly

conditional, to the benefit of Goldcorp"

* Source text for Eikon News Search ID:nMKWCMfrQa

* Further company coverage OSK.TO

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