Bloomberg: Goldcorp's Telfer Does Not Expect Rival Bid For Osisko

(RTTNews) - Canadian gold miner Goldcorp Inc.'s (G.TO, GG) Chairman Ian Telfer does not expect any other company to top the firm's hostile C$2.82 billion ($2.53 billion) bid for Osisko Mining Corp. (OSK.TO).

In an interview to Bloomberg, Telfer said the competitive landscape has changed dramatically, with many rival producers grappling with writedowns on previous takeovers.

Goldcorp's cash-and-stock bid for Osisko currently has a value of C$6.42 a share, which is 13 percent lower than Osisko's stock price. Investors are said to expect a higher offer.

Osisko rejected the offer as too low. The deal is expected to lead to the creation of the largest gold producer in Canada's Quebec province.

However, Goldcorp. does not see a need to change its price, Telfer said. The second-largest gold producer by market value does not want to bid against itself, he added.

G.TO fell 0.4 percent to close at C$28.50 on Tuesday. GG edged down 0.1 percent at $25.52.

OSK.TO settled higher by 2.2 percent at C$7.41.