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两家加拿大矿业集团达成并购协议Inco makes Falconbridge bid
加拿大多伦多矿业集团Inco已达成一项友好协议，以106亿美元的股票加现金收购镍、铜和锌生产商鹰桥公司(Falconbridge)。此举可能挫败在伦敦上市的金属集团斯特拉塔(Xstrata)获得鹰桥控股权的行动。
Inco, the Toronto mining group, has struck a friendly deal to acquire Falconbridge for $10.6bn in stock and cash, potentially scuppering moves by Xstrata, the London-listed metals group, to gain control of the nickel, copper and zinc producer.
斯特拉塔于今年8月从加拿大投资公司Brascan手中购得鹰桥公司20%的股权，收购价为20.5亿加元(合17.4亿美元)，外界曾预计斯特拉塔日后会竞购鹰桥的控股权。但鹰桥首席执行官德里克·帕奈尔(Derek Pannell)昨天将Inco的出价称为“迄今最好的结果”。
In August, Xstrata bought a 20 per cent stake in Falconbridge from Brascan, the Canadian investment company, for C$2.05bn ($1.74bn), and had been expected to bid for control at a later date. But Derek Pannell, Falconbridge's chief executive, yesterday described Inco's bid as “by far the best outcome”.
帕奈尔先生表示，鹰桥已与斯特拉塔进行过谈判。“他们显然还有竞价的机会，”他说，“迄今为止他们还没有这么做。”
Mr Pannell said Falconbridge had held talks with Xstrata. “The opportunity for them to bid was clearly there”, he said. “So far, they have not done so.”
接近斯特拉塔的一位消息人士表示，这家英国-瑞士公司并不急于对Inco的行动做出回应，但公司购买鹰桥的兴趣没有改变。由于鹰桥股价上升，斯特拉塔的投资已经获得可观利润，可能在一段时间内满足于少数股股东的角色。
A source close to Xstrata said the Anglo-Swiss company was not in a rush to respond to Inco's move, but that its interest in buying Falconbridge is unchanged. Xstrata has already made a substantial profit on its investment, thanks to a rise in Falconbridge's share price, and may be content to remain a minority shareholder for some time.
一些分析师认为，斯特拉塔或另外一个集团可能提出收购鹰桥的更高报价。包括中国五矿(Minmetals)在内的几家矿业集团去年曾就收购诺兰达(Noranda)进行了谈判。诺兰达是分拆出鹰桥的公司之一。
Some analysts believe Xstrata or a third group might yet step forward with a better offer for Falconbridge. Several mining groups, including China's Minmetals, held discussions last year about acquiring Noranda, one of Falconbridge's predecessor companies.
Inco和鹰桥两家公司期望在2007年底前总共节省成本3.5亿美元。假设中国的强劲需求推动镍、铜价格进一步上升，Inco董事长斯科特·汉德(Scott Hand)表示：“无论在近期还是远期，该联合企业将产生非常强劲的现金流和盈利，并将具有利用新增长机遇的规模和财务实力。”
The companies expect to achieve total cost savings of $350m by the end of 2007. Based on a further rise in nickel and copper prices fuelled by strong demand from China, Mr Hand said the combined company would be in a position “to generate very strong cash flow and earnings both in the near and long term, and will have the size and financial strength to take advantage of new growth opportunities”.
在上市的国际金属企业中，该联合集团的市值将排名第五，位居必和必拓(BHP Billiton)、力拓(Rio Tinto)、英美资源集团(Anglo American)、巴西淡水河谷公司(CVRD)和美国铝业(Alcoa)之后。它将成为世界第三大锌生产商和大型钴供应商。
The combined group would rank fifth by market value among international listed metal companies, after BHP Billiton, Rio Tinto, Anglo American, CVRD of Brazil and Alcoa. It would be the world's third biggest zinc producer and a sizeable cobalt supplier.
[ 本帖最后由 Capoeira 于 2005-10-14 23:00 编辑 ]
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