Zeev's Turnips Patch-No Politics (ZEEV)

[madrose1]

N trading up 13pts to $71 .....Teck Cominco Limited will make a C$17.8B offer for Inco Ltd-N
Teck Cominco Limited announced that it will make a C$17.8 billion cash and share offer to acquire all of the outstanding shares of Inco Limited, conditional on Inco not completing its announced takeover bid for Falconbridge Ltd. Inco shareholders will receive C$78.50 per common share in cash or shares: C$28.00 in cash and 0.6293 of a Teck Class B subordinate voting share at full pro ration. The business combination, with a pro forma enterprise value of approximately C$35 billion, will create a broadly diversified Canadian-based mining company with market-leading positions in zinc, nickel and metallurgical coal and a significant presence in copper, gold and other commodities. The offer represents a premium of 27.8% and 20.1% to the 30-day volume weighted average price and closing price, respectively, of Inco common shares on the Toronto Stock Exchange as at May 5, 2006. :theflyonthewall