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Goldcorp extends takeover bid for Exeter Resource

Goldcorp Inc. extended the takeover offer for Exeter Resource Corp. to June 20, the company said June 7.

74,992,886 Exeter shares were validly tendered under the offer, representing about 80.5% of Exeter shares outstanding. The original closing date of the offer was May 26.

Goldcorp has accepted for payment all shares tendered under the offer.

The bid values Exeter at about C$247 million, with Goldcorp offering 0.12 of a common share for every Exeter share held. Exeter's board unanimously approved Goldcorp's bid and recommended that shareholders accept the offer.

Exeter owns the Caspiche project, located about 10 kilometers north of Goldcorp's 50%-owned Cerro Casale gold project in Chile.