Inco ends bid for Falconbridge.Canadian nickel miner Inco Ltd., Toronto, has announced that it is dropping out of the bidding war for competitor Falconbridge Ltd. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. an Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. (AP) report, Inco's departure probably means that European mining company Xstrata PLC now has a better chance of acquiring Falconbridge. Inco fell short of a late July deadline to acquire enough Falconbridge shares to close on its proposed deal. The Falconbridge board will meet to reconsider the Xstrata offer and where such a deal would stand with Canadian regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities . According to the AP report, Xstrata already owns about 20 percent of Falconbridge and has been trying to acquire the remaining shares. Inco is now turning its attention to its own pending acquisition. The company is considering bids from Phelps-Dodge and Teck Cominco Teck-Cominco TSX | TCK.B[1], NYSE: TCK) is a Canadian mining company. It was formed from the amalgamation of Teck and Cominco in 2001. Cominco started in 1906 as The Consolidated Mining and Smelting Company of Canada, formed by the amalgamation of several Ltd. |
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