Goldcorp (TSX:G, Stock Forum), a Vancouver-based gold producer engaged in the operation, exploration, development and acquisition of North, Central and South American precious metal properties, announced today that the minimum tender condition of its offer to buy up all issued and outstanding shares of Osisko Mining (TSX:OSK, Stock Forum) was not met by the expiry time of 11:59 pm EDT on April 22, 2014.
According to the news release, the company's offer expired in accordance with its terms and any Osisko shares deposited pursuant to the offer will be returned to the original shareholders who deposited them.
Also, all board nominations made by Goldcorp that were intended to be voted on at Osisko's upcoming annual and general meeting to be held on May 20, 2014 have been withdrawn.
This brought to an end months of acrimonious exchanges between the two entities including accusations of mismanagement and insolvency.
Goldcorp was recently in the news when the company stated it would not amend its standing offer for Osisko yesterday in the face of the Osisko-favored Yamana and Agnico counter offer.
Currently there are 812.9m outstanding shares with a market cap of $22.1 billion.