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Gold Fields signs deal for Osisko Mining, will consolidate Windfall project ownership

TORONTO — Gold Fields Ltd. has signed a deal to buy Osisko Mining Inc. in an agreement valued at about $2.16 billion that will see the company consolidate its ownership of the Windfall project in Quebec. Under the proposal, Gold Fields will pay $4.
Canadian Press
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Miners work at a gold mine in northern Canada on Wednesday, August 24, 2011. Gold Fields Ltd. has signed a deal to buy Osisko Mining Inc. in an agreement valued at about $2.16 billion that will see the company consolidate its ownership of the Windfall project in Quebec. THE CANADIAN PRESS/Sean Kilpatrick

TORONTO — Gold Fields Ltd. has signed a deal to buy Osisko Mining Inc. in an agreement valued at about $2.16 billion that will see the company consolidate its ownership of the Windfall project in Quebec.

Under the proposal, Gold Fields will pay $4.90 per share in cash for Osisko.

Shares in Osisko closed at $2.94 on the Toronto Stock Exchange on Friday.

Osisko holds a 50 per cent interest in the Windfall gold deposit in Quebec, while Gold Fields owns the remaining interest.

The transaction is subject to customary conditions, including court, regulatory and shareholder approvals.

The deal is expected to close in the fourth quarter of this year.

This report by The Canadian Press was first published Aug. 12, 2024.

Companies in this story: (TSX:OSK)

The Canadian Press