Inco Agrees to Acquire Falconbridge
From Reuters
Inco Ltd. elbowed Swiss rival Xstrata out of the race for Falconbridge Ltd. with a friendly bid valued at 12 billion Canadian dollars ($10.2 billion). The move would create the world’s biggest nickel miner.
In a long-awaited deal agreed to by both companies’ boards, Inco offered 0.6713 share, plus 5 Canadian cents in cash for each Falconbridge share, a 10% premium on Friday’s closing price.
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