Goldcorp bows out of bidding war for rival Canadian miner Osisko

Reuters

TORONTO, April 21 (Reuters) - Goldcorp Inc said on Monday it is walking away from a hostile bid to acquire Osisko Mining Corp, which last week reached a C$3.9 billion ($3.54 billion) deal to sell most of its assets to Yamana Gold Inc and Agnico Eagle Mines Ltd.

Vancouver-based Goldcorp said in a brief statement it would not raise its bid for Montreal-based Osisko and would let the offer expire on April 22.

"We stated from the beginning of this process that we would remain disciplined with respect to our offer to acquire Osisko, and our decision not to amend the offer is consistent with that commitment," Goldcorp Chief Executive Chuck Jeannes said in the statement.

($1 = 1.1018 Canadian Dollars) (Reporting by Euan Rocha; Editing by Paul Simao)

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