UPDATE 1-Goldcorp secures Canadian antitrust approval on Osisko bid

 (Adds details, background, share price move) 
    By Euan Rocha 
    TORONTO, Jan 30 (Reuters) - Goldcorp Inc    said on 
Thursday that Canada's antitrust watchdog has indicated it does 
not intend to challenge the gold miner's move to acquire its 
smaller rival Osisko Mining Corp   . 
    Vancouver-based Goldcorp said it has obtained an advance 
ruling certificate from the Competition Bureau, removing one of 
the hurdles it faces in its C$2.6 billion ($2.3 billion) hostile 
bid for Osisko.    
    "We have met and discussed our offer with a significant 
number of Osisko's shareholders and have received strong support 
for this business combination," Goldcorp Chief Executive Chuck 
Jeannes said in a statement.  
    Osisko has slammed the offer as "opportunistic" and advised 
its shareholders to reject it stating it does not offer an 
adequate premium.      
    Goldcorp said on Thursday it will not overpay for Osisko, 
which owns the Malartic gold mine in the prolific Abitibi Gold 
Belt in Quebec.  
    "We have seen fundamental changes take place in the gold 
market and the gold mining industry in recent years. Successful 
gold companies today must be financially disciplined, and make 
investments that provide strong rates of return to investors as 
opposed to overpaying for assets," said Jeannes. 
    The price of gold has fallen more than 35 percent from its 
peak of over $1,900 an ounce in late 2011. Some analysts have 
cautioned that a winning deal could increase risk for Goldcorp, 
if the price of gold falls further, given current operating 
costs at the Malartic mine.   
    Montreal-based Osisko said on Wednesday it has sued Goldcorp 
in an attempt to foil the miner's hostile bid, alleging that its 
suitor misused confidential information.    
    Goldcorp, on Thursday, denied the allegations made by Osisko 
and said it will take all necessary steps to vigorously defend 
its position.  
    Shares in both Goldcorp and Osisko fell sharply on Thursday, 
as the price of gold fell more than 2 percent after a $10 
billion cut to the Federal Reserve's monetary stimulus programme 
boosted the U.S. dollar and sent gold sliding.    
    Goldcorp shares fell 3.9 percent in early trading on the 
Toronto Stock Exchange, while those of Osisko fell 4.8 percent. 
  ($1 = 1.1151 Canadian dollars) 
 
 (Reporting by Euan Rocha; Editing by Sofina Mirza-Reid) 
 ((euan.rocha@thomsonreuters.com)(+1 416 941 8185)(Reuters 
Messaging: euan.rocha.reuters.com@reuters.net)) 
 
Keywords: OSISKO GOLDCORP/