news now cvrd trumps teck over inco

Remember all the talk during the week from Teck boss, considering Aussie companies for a takeover.....but in the short term, Teck would try to acquire Inco. Well news just out that CVRD will bid for Inco.

CVRD world's largest iron ore company, have more more cash than they know what to do with. The link is over at Kitco and will be a fairly big story for CVRD to go into nickel.

Of interest to ZFX investors.....the Teck bid for Inco was US$17 billion. Note here Inco's half year profits of US$675. By way of comparision, ZFX are a US$4 billion company and will make US$500 this half.


BRIEF: For the six months ended 30 June 2006, Inco Limited's revenues rose 35% to $3.13B. Net income rose 26% to $674M. Revenues reflect higher deliveries & increased average realised selling prices for nickel & copper and net tax benefits due to favorable impact of future income tax reductions in Canada. Net income was partially offset by unfavorable currency rate movements, higher energy costs and the inclusion of take-over related costs.