Xstrata, CVRD scoop remaining Falconbridge and Inco shares.The Swiss-based miner Xstrata Plc announced Nov. 2, it had completed the acquisition of Canadian miner Falconbridge, owning 100 per cent of the shares it bought for $62:50 (Canadian) in cash. Xstrata took control of Falconbridge in August after initially acquiring a 20 per cent stake in the Canadian miner last year. The deal makes Xstrata the world's fifth largest diversified mining company by market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. and boosted its copper and nickel portfolio. It's potential Sudbury mining partner, Companhia Vale Do Rio Doce Summary Companhia Vale do Rio Doce (CVRD) is a global diversified mining company, the second largest mining company in the world, and the largest logistics operator in Brazil. (CVRD CVRD Companhia Vale do Rio Doce (Brazilian mining company) CVRD Cowichan Valley Regional District (Vacouver Island, British Columbia, Canada) CVRD Converter, Variable Resistance, to DC Voltage ) will ask its new Canadian asset, Inco Ltd., to call an immediate special shareholders' meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. to buy the remaining shares of the Canadian miner. CVRD has obtained only a 86.57 per cent of Inco's shares when its offer expired Nov. 3. The takeover made CVRD the world's second largest diversified miner after BHP Billiton. |
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