Enviado: 8/5/2006 15:18COPPER
Teck Cominco offers C$17.8bn for Inco
By Tom Griggs and Helen Thomas
Monday, May 08, 2006
Posted: 08:15 AM EDT (13:15 London)
Consolidation of the world's big mining groups took another turn on Monday as Teck Cominco offered C$17.8bn ($16bn) in cash and stock for its Canadian rival Inco on condition that the group abandoned its takeover bid for Falconbridge.
The move would leave rival Anglo-Swiss Xstrata as the most likely bidder for Falconbridge, the copper and nickel miner, which pushed the London-listed mining giant's shares to a 52-week high of £23.95 by mid-afternoon.
Teck Cominco said its offer would create a broad-based mining giant with world leading positions in zinc, coking coal and indium as well as signifcant assets in nickel and other metals. The offer consists of C$78.50 in cash or shares, C$28 in cash and 0.6293 of a Teck class B share
Teck Cominco offers C$17.8bn for Inco
By Tom Griggs and Helen Thomas
Monday, May 08, 2006
Posted: 08:15 AM EDT (13:15 London)
Consolidation of the world's big mining groups took another turn on Monday as Teck Cominco offered C$17.8bn ($16bn) in cash and stock for its Canadian rival Inco on condition that the group abandoned its takeover bid for Falconbridge.
The move would leave rival Anglo-Swiss Xstrata as the most likely bidder for Falconbridge, the copper and nickel miner, which pushed the London-listed mining giant's shares to a 52-week high of £23.95 by mid-afternoon.
Teck Cominco said its offer would create a broad-based mining giant with world leading positions in zinc, coking coal and indium as well as signifcant assets in nickel and other metals. The offer consists of C$78.50 in cash or shares, C$28 in cash and 0.6293 of a Teck class B share
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