Lazarovici says Inco a takeover target
NP says Inco a potential takeover target
Inco Ltd N
Shares issued 181,997,763 Jan 22 close $26.82
Wed 23 Jan 2002 In the News
The National Post reports in its Wednesday, Jan. 23, edition that investors
are speculating nickel prices are on an upward trajectory and as a result
Inco is benefiting. The Post's Drew Hasselback writes that Canaccord
Capital analyst Greg Barnes says despite recent improvements to the price
of nickel there has been no fundamental change in demand from consumers.
Mr. Barnes says, "The prices we're seeing right now are being driven on a
technical basis by speculators." Besides metal prices, a number of stories
are driving interest in Inco. First there is the Goro nickel project in New
Caledonia in the South Pacific that could soon secure a long-term supply of
nickel that could be marketed to Asia. Then there is Voisey's Bay, but
talks with Newfoundland have stalled recently. Lastly, Nesbitt Burns
analyst Victor Lazarovici says Inco is a potential takeover candidate
because it has no single major shareholder. He says it is "inevitable" that
one of the world's big metal producers, such as Anglo American, Rio Tinto
or BHP Billiton , will scoop up Inco. With a market value of about
$3-billion (U.S.), Inco is a small-fry in the global mineral business, says
Mr. Lazarovici.