Tuesday, May 09, 2006 TECK RESOURCES LIMITED, VALE S.A. and XSTRATA PLC A Canadian battle of mining biblical note looms as Vancouver's David, zinc miner Teck Cominco, tries to take over nickel giant Inco for US$16 billion in cash and shares as the Toronto Goliath is in the middle of its friendly bid for Toronto copper producer Falconbridge, reports Mineweb. In the meantime, metals analysts predict that Swiss interloper Xstrata is hovering somewhere in the background, coveting the Falconbridge spoils. Apparently, Teck had been trying to get Inco to take Teck's overtures seriously before Inco announced its own $10.6 billion stock and cash bid for Falconbridge. Initially, Teck President and CEO Donald Lindsay said he supported the proposed bid of Inco for Falconbridge. (See Mineweb:
Vancouver's David Bids for Toronto's Goliath
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Tuesday, May 09, 2006
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