Goldcorp Inc. will drop its C$3.2 billion ($2.9 billion) hostile bid for Osisko Mining Corp., electing to walk away rather than increase the offer and risk overpaying, after Canadian rivals Yamana Gold Inc. and Agnico Eagle Mines Ltd. reached a friendly takeover deal.
Lululemon Athletica Inc. fell the most in more than three months after an analyst at Sterne Agee & Leach Inc. said the yoga-wear retailer didn’t provide a clear strategy for improving sales at a recent presentation.
Lululemon Athletica Inc. won dismissal of claims that shareholders lost $2 billion because the athletic-wear company misled them about quality problems with its products, including bleeding colors and see-through yoga pants.
Agnico Eagle Mines Ltd. and Yamana Gold Inc. agreed to jointly acquire Osisko Mining Corp. for C$3.9 billion ($3.54 billion), the latest twist in a battle for control of a Quebec mine that now involves three of Canada’s largest gold producers.
Turquoise Hill Resources Ltd. rose to a one-month high after Mongolia’s Prime Minister Altankhuyag Norov said his government fully supports project financing to restart construction on the second phase of the Oyu Tolgoi mine.