Inco's grip on the Greater Sudbury mining industry tightened this morning as the Nickel Giant announced the friendly take-over of rival Falconbridge Ltd., offering compensation and Inco common shares for about $34 per Falconbrdge share.
The combined companies will continue to be known as Inco Ltd., establishing long-term goals for low-cost, profitable and long-term global growth for the nickel giant.
Inco's nickel production, as a result of the take-over, is expected to climb to more than one billion pounds by 2009. Copper production is expected to increase to 2.4 billion pounds.
For complete coverage of the Falconbridge take-over, see the Wednesday issue of Northern Life.
