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Gold/Mining/Energy : Falconbridge Ltd.( T.FL )
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To: Condor who started this subject2/16/2001 8:35:11 AM
From: Condor   of 103
 
This may explain Inco's 10% share price rise yesterday.
Globe says Inco seen as a potential takeover target

Inco Ltd N
Shares issued 181,807,214 Feb 15 close $28.25
Fri 16 Feb 2001 In the News
Also Noranda Inc (NOR)
The Globe and Mail reports in its Friday, Feb. 16, edition that a
$40-million (U.S.) investment in Inco has intensified speculation that the
firm is a potential takeover target. The Globe's Eric Reguly writes that
the purchase makes Coastal Investment -- run by Gordon Flatt, brother of
Brascan Corp.'s Bruce Flatt -- the single-biggest owner of Inco's Series E
preferred shares. Coastal now owns 1.12 million shares, or 12 per cent. The
shares have been a hot commodity recently because Inco has to buy them back
at a premium if the company is acquired. Coastal's disclosure grabbed a lot
of attention on Bay Street because Bruce Flatt, currently chief executive
of Brookfield Properties Corp., will be in overall charge of the Brascan
group's mining strategy next year, when he replaces Jack Cockwell as
Brascan CEO. Later this month, he will become a director of
Brascan-controlled Noranda, which is thought to be among Inco's potential
suitors. Bruce Flatt said he was unaware of Coastal's Inco investment until
it was disclosed Tuesday, and that he has no formal or informal links with
Coastal.
(c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com
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