Inco, Falconbridge OK Deal, Reject Other Bids
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From Reuters
A friendly deal between Inco Ltd. and Falconbridge Ltd. still makes the most sense, the two firms said as they rejected separate hostile bids.
Inco blasted a $16.2-billion offer from Teck Cominco Ltd. as inadequate and opportunistic.
Falconbridge said the offer it received from Swiss firm Xstrata was not a “superior proposal.” Falconbridge urged its shareholders to tender their shares to Inco.
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