10:52 AM EDT, 09/23/2024 (MT Newswires) -- Osisko Mining's ( OBNNF ) price target fell to $4.90 from $5 while its rating moved to Tender from Outperform in a Friday note from National Bank of Canada.

The changes were made after Gold Fields agreed to acquire Osisko for $4.90 a share in a $2.16 billion deal.

The deal is expected to close in the fourth quarter, with final court approval expected Oct. 22.

National Bank expects Osisko shareholders, including the company's biggest, Blackrock, to support the merger.

Osisko was trading at $4.87 per share at last look on the TSX.