Corona asks court to halt Goldcorp bid for Dickenson

Corona, through a subsidiary, Corona Minerals, took its case to the Chief Justice of the Supreme Court of Ontario, trial division, in a bid to stop Goldcorp Investments Ltd. from proceeding with its takeover offers.

Corona, which first announced its takeover bid for the two companies at the end of January, is suing Dickenson, Kam-Kotia, Goldcorp, Wharf Resources (TSE), CSA Management Ltd. and their respective directors, and RBC Dominion Securities.

The injunction sought, among other matters, an order enjoining Goldcorp, a Toronto-based gold fund managed by CSA, from taking up any Dickenson or Kam-Kotia shares tendered to its bids, and an order enjoining Dickenson, Kam- Kotia, Wharf, CSA and Goldcorp from voting any shares of Dickenson or Kam-Kotia at any meeting of shareholders.

Shareholder meetings for associated companies Wharf, Dickenson and Kam-Kotia are scheduled for April 26, 27 and 28, respectively.

Goldcorp, whose offers were to expire April 14, is bidding $9 for each B share and $8.50 for each A share (for up to 50% of the outstanding A shares) of Dickenson and $3 for each common share of Kam-Kotia.

Corona, which has extended its offers to May 1, is bidding $7.15 for each Dickenson B share and $2.50 for each Kam-Kotia share.

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