Topic: Growth Stocks

Stock Pickers Digest Hotline – Thursday, April 17, 2014

Article Excerpt

PLEASE NOTE: Our next Hotline will go out on Friday, April 25, 2014. YAMANA GOLD INC., $8.76, symbol YRI on Toronto, is joining up with Agnico Eagle Mines (symbol AEM on Toronto) to counter the latest $3.6-billion takeover bid for Osisko Mining (symbol OSK) by Goldcorp (symbol G). Agnico Eagle and Yamana are offering a total of $3.9 billion, or $8.15 per Osisko share. Osisko shareholders will receive $2.09 in cash, 0.26471 of a Yamana share, 0.07264 of an Agnico Eagle share and one share of a new company, with a value of $1.20, which will hold Osisko’s current exploration properties, including its Guerrero project in Mexico; a royalty on production from Osisko’s Canadian Malartic mine; and cash of $155 million. Yamana and Agnico Eagle will each own half of Osisko’s assets, including Canadian Malartic. The acquisition lets Yamana diversify beyond South America and Mexico, where it has seven mines. It should also boost the company’s per-share cash flow. If Osisko receives a superior…