Mining industry

Goldcorp Extends Take-Over Bid for Wheaton River Minerals Ltd.

Strategic Insights

Jan 23, 2005 — 1 min read

Goldcorp Inc.'s unsolicited bid for Wheaton River Minerals Ltd. has been extended, allowing shareholders to tender their common shares until February 14, 2005. The bid, conditional on Goldcorp shareholder approval, aims to create the world's lowest-cost, million-ounce gold producer. Wheaton River's board recommends that shareholders accept the offer, citing benefits such as increased financial stability, trading liquidity, and a diversified risk profile.

Key Takeaways:

Goldcorp's take-over bid for Wheaton River Minerals Ltd. has been extended to February 14, 2005, with a deadline of 5:00 p.m. (Vancouver time).
The bid is conditional on Goldcorp shareholder approval, which will be voted on at the Goldcorp shareholders meeting on February 10, 2005.
Wheaton River's board recommends that shareholders accept the Goldcorp offer, citing benefits such as increased financial stability, trading liquidity, and a diversified risk profile.
New Goldcorp will be formed, listing on the NYSE and TSX, with enhanced trading liquidity and a stronger financial position.
Wheaton River has retained BMO Nesbitt Burns Inc. as additional financial advisor in connection with Goldcorp's offer.
Ian Telfer, Chairman and CEO of Wheaton River, expressed satisfaction with Goldcorp's reaffirmed commitment to create the world's lowest-cost, million-ounce gold producer.

Statistics:

0.25 Goldcorp common shares offered for each Wheaton River common share.
5:00 p.m. (Vancouver time) on February 14, 2005, as the new deadline for shareholders to tender their common shares.
February 10, 2005, as the scheduled date for the Goldcorp shareholders meeting.
$306 million in 2003 strong financial position (Goldcorp's total assets).
NYSE and TSX listing for the new Goldcorp entity.

Sources:

[Goldcorp's Take-Over Bid Circular, December 2004]
[Wheaton River's Directors' Circular, available at www.sedar.com]
[Announcement by Wheaton River Minerals Ltd. (TSX:WRM) (AMEX:WHT)]

The End of American Hypergrowth

For two centuries, the US economy grew by adding workers. That's over.

Healthcare's $5.3 Trillion Drag

How Medical Spending Became America's Biggest Productivity Tax

Breakthrough in Nanotechnology: Electromagnetic Shock Treatment Shows Promise

Researchers at the Wuhan University of Technology in China have made significant progress in the field of nanotechnology, specifically in the area of nanoindentation. A novel electromagnetic shock treatment (EST) method has been developed to enhance the microscale mechanical properties of a titanium alloy, with promising results obtained through array-based

Gut Microbiota Plays Crucial Role in Immunotherapy Success for Colon Cancer Patients

Research investigators at the Zhengzhou Central Hospital Affiliated to Zhengzhou University have made groundbreaking discoveries on the role of gut microbiota in determining the efficacy of immunotherapy for colon cancer patients. The study, which was recently published in Biochimica et Biophysica Acta, reveals that specific bacterial species and microbial metabolites

Read more

The End of American Hypergrowth

Healthcare's $5.3 Trillion Drag

Breakthrough in Nanotechnology: Electromagnetic Shock Treatment Shows Promise

Gut Microbiota Plays Crucial Role in Immunotherapy Success for Colon Cancer Patients