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On August 12, 2024, Osisko Mining Inc. (TSX:OSK) (“Osisko“ or the “Company”) announced that it had entered into a definitive arrangement agreement with a subsidiary of Gold Fields Limited (“Gold Fields”) pursuant to which Gold Fields will acquire all of the common shares (“Shares”) of Osisko for $4.90 cash per share (the “Consideration”), representing a total equity value of $2.16B on a fully diluted basis (the “Transaction”).
The Consideration represents premium of 55% to the volume weighted average trading price over the prior 20 trading days.
Osisko and Gold Fields are 50/50 joint venture partners in the Windfall project in Québec, one of the largest and highest-grade gold development projects globally. Upon closing of the Transaction, the ownership of Windfall will be consolidated and Gold Fields will own a 100% interest in the project.
Fort Capital Partners is acting as financial advisor and provided an independent fairness opinion to the Special Committee of Osisko. Maxit Capital and Canaccord Genuity are acting as financial advisors to Osisko. Bennett Jones LLP is acting as legal advisor to Osisko and Cassels Brock & Blackwell LLP is acting as legal advisor to the Special Committee of Osisko.