Xstrata ends speculation, bids for rest of Falco.The mining consolidation wars heated up in May with Swiss miner Xstrata PLC trumping trump 1 n. 1. Games a. A suit in card games that outranks all other suits for the duration of a hand. Often used in the plural. b. A card of such a suit. c. A trump card. 2. Inco Ltd. with a $16.1 billion offer for Falconbridge Ltd. The company's bid is for the 80 per cent of Falconbridge it doesn't already own, bringing their potential value in the Sudbury nickel miner to $20 billion. That's about $1 billion richer than Inco's latest offer to acquire its crosstown cross·town or cross-town adj. Running, extending, or going across a city or town: a crosstown street; crosstown traffic. adv. Sudbury rival. Earlier, Vancouver's 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 made an offer to buy Falconbridge for $17.8 million in cash and stock. "A lot of attention has been directed at the business case for a merger between Inco and Falconbridge, based on assumptions of operating synergies at Sudbury," said Xstrata chief executive Mick Davis in a May 17 statement. "However, given the immense value inherent in the combination of our copper businesses in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. , Xstrata is the natural partner for Falconbridge." |
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