RE:RE:RE:Background of the $2.2 Billion ALL CASH deal - Osisko MiningAgreed - As we know from previous press releases, USCG has been retained:
-"with the expectation that this will assist the Corporation and its recently formed Special Committee with continuing to explore opportunities and potential transactions that may be strategically beneficial to the Corporation and its stakeholders."
-
Aug 24, 2023 PR and again on August 20, 2024 we were told:
-"Having completed its due diligence investigations regarding LAURION over the past year, this financial advisory firm is aiming to facilitate the procurement of a potential strategic transaction involving the Corporation. More specifically, they will identify and introduce third parties for possible mergers & acquisition (M&A) and/or investment opportunities.
LAURION’s primary focus is to identify and explore opportunities to maximize shareholder value. As such, on August 24, 2023, the Corporation announced the establishment of a Special Committee to undertake a strategic review process intended to maximize shareholder value. "
Aug 20, 2024 PR There are similaries in the wording to what we now know was going on in the background at Osisko Mining.
--
Beginning in late 2023, senior management of Osisko and representatives of Gold Fields had preliminary discussions with respect to the possibility of Gold Fields increasing its ownership in the Windfall Project. On March 1, 2024, Osisko received a preliminary non-binding written expression of interest from a Canadian gold mining company ("Bidder 1") in relation to a combination on a "merger of equals" basis at an exchange ratio that was proposed to reflect no premium to the market price for Osisko ("First Bidder 1 Offer"). Osisko considered this proposal with certain directors and its external advisors and determined that it did not form a basis for any further consideration or discussions. In response to the increased interest in the Company, Osisko, led by its Chairman and CEO, Mr. John Burzynski, began re-engaging with Maxit, which has been providing ongoing financial advisory services to Osisko since 2017, to evaluate and canvass potential counterparties for possible transactions that would result in the acquisition of Osisko's interest in the Joint Venture, Osisko or other strategic transaction involving the Company. As part of the process undertaken to pursue the best interests of Osisko, and consider opportunities to maximize value for Shareholders, Maxit worked with management of the Company to facilitate the diligence process to provide the interested parties with access to certain information that would be needed to enable each party to be in a position to make proposals that would allow the Company to be in a position to evaluate the proposed transaction type, implied value, the commitment level of the parties and their financial capability. --
My expectation is that USCG is bringing (a) deals(s) to the table, and different financial advisors are providing their opinions.
Again, deals take time to negotiate and can fall apart at any moment, for a variety of reasons. We are fortunate that LME has cash in the bank to keep exploring until there's material news to announce....aka the BIG BIG news we have all been waiting for.
DAM$ wrote: There will be another FA hired to perform the Fairness Report as USCG will likely be biased as they are likely in line for a commission. The new FA will not be divulged until the Mngmt Information Circular as it would tell the public that they are negotiating a firm offer.