Business
Teck Cominco responds to termination of Inco/Falconbridge transaction
Teck Cominco responds to termination of Inco/Falconbridge transaction.
About this update from Teck Resources Limited Class A
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, July 28 /CNW/ - Teck Cominco Limited (TSX - TCK.A; TCK.B;\nNYSE - TCK) today responded to the announcement by Falconbridge that its\nsupport agreement with Inco has been terminated.\nTeck Cominco President and Chief Executive Officer, Don Lindsay, said:\n\"This clears the way for our offer to proceed directly to Inco shareholders.\nAs we announced on July 21, our offer remains open until August 16, 2006. In\nthe meantime, we continue to assess all relevant developments and market\nconditions solely in the context of determining what makes sense for Teck\nCominco shareholders. We understand the real value that a combination of Teck\nCominco and Inco could mean for our shareholders, but it is only one of many\nopportunities that we are considering. If the market determines that Inco is\nworth more than we are prepared to pay, we will accept that. We will not be\ndrawn into a bidding war that would be inconsistent with our commitment to\nvalue for Teck Cominco shareholders.\"\n\nAbout Teck Cominco\n\nTeck Cominco is a diversified mining company, headquartered in Vancouver,\nCanada. Shares are listed on the Toronto Stock Exchange under the symbols\nTCK.A and TCK.B. and the New York Stock Exchange under the symbol TCK. The\ncompany is a world leader in the production of zinc and metallurgical coal and\nis also a significant producer of copper, gold and specialty metals. Further\ninformation can be found at www.teckcominco.com.\n\nImportant Notice\n\nThis press release may be deemed to be solicitation material in respect\nof Teck Cominco's proposed tender offer for the shares of Inco. On May 23,\n2006, Teck Cominco has filed the following documents with the Securities and\nExchange Commission (\"SEC\") in connection with its offer to purchase all of\nthe outstanding common shares of Inco: (1) a Registration Statement on Form\nF-10 (containing an offer to purchase and a share take-over bid circular) and\n(2) a tender offer statement on Schedule T-O. Investors and shareholders are\nurged to read the Registration Statement, the Schedule T-O and any other\nrelevant documents filed or that will be filed with the SEC when they become\navailable because they will contain important information about the tender\noffer. These documents will be available without charge on the SEC's web site\nat www.sec.gov and may be obtaine...