NewsWhore
06-27-2006, 03:10 PM
Phelps Dodge Corporation has purchased Inco Ltd and Falconbridge for US$40 billion, thus becoming the world's largest producer of nickel and tin. Clave Digital reports that Phelps will disburse US$71 for each share of Inco, a firm which in turn had reached an agreement to purchase Falconbridge. Inco will improve its offer and pay US$53 for each Falconbridge share. The new group will have assets worth US$56 billion and according to UBS analyst Robin Bahar, will be in a position to "control nickel and tin production, as well as their prices in the world market". Phelps Dodge Corporation will have its headquarters in Phoenix, Arizona, whereas the Inco Division will be located in Toronto, Canada.
Link To Original Article (http://www.dr1.com/index.html#13)
Link To Original Article (http://www.dr1.com/index.html#13)