July 18, 2006

July 18, 2006: Xstrata leads ...

Xstrata leads race to win Falconbridge, analysts say -- Inco offer seen as weak

[....] Phelps Dodge shareholders punished the Arizona-based company, pushing the shares down US$2.84 to US$76.95, its worst day in three weeks.

It is supporting Inco's bid for Falconbridge and has agreed to purchase Inco regardless of whether it captures Falconbridge. If Falconbridge does go to Inco and the enlarged company ends up in Phelps' hands, each Falconbridge share would be worth the equivalent of $63.23 based on yesterday's closing prices. Each Inco share would be worth $78.99 under the Phelps offer. Inco closed at $75.65, up 76 cents.
With its deep pockets, Xstrata has the financial firepower .......

Check who own Xtrata -- perhaps those in the background. I seem to remember some information on that which was of interest.


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