Osisko settles lawsuit with Goldcorp, will allow due diligence

March 3 (Reuters) - Osisko Mining Corp OSK.TO said it agreed to settle its lawsuit against Goldcorp Inc G.TO and would allow Goldcorp to conduct due diligence related to the larger miner's hostile C$2.6 billion ($2.35 billion) bid for Osisko.

Montreal-based Osisko's lawsuit filed in January alleged that Goldcorp "misused confidential information" and acted against confidentiality agreement terms. News Search ID:nL2N0L32JF

Osisko said on Monday that Goldcorp had agreed to not take up and pay - before April 15 - for any shares tendered under its hostile bid. News Search ID:nCCN4bplqg

In return, Osisko will waive the application of its shareholder rights plan for a limited period.

Goldcorp had in February undertaken not to challenge Osisko's shareholder rights, or "poison pill", plan until March 6. News Search ID:nL2N0LA03J

Goldcorp launched an unsolicited cash-and-stock bid in January to buy Osisko in a move to gain control of the smaller rival's Malartic gold mine in Quebec.

($1 = 1.11 Canadian dollars)

(Reporting by Ashutosh Pandey in Bangalore; Editing by Kirti Pandey)

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Keywords: OSISKO GOLDCORP/