FalconbridgeFalconbridge was the nickel and copper producer at Sudbury. It was owned by Xtrata 19.9% before takeover which is something like Candente's situation. The story of Falconbridge is interesting.
The following is quoted from Wiki:
On 11 October 2005, Inco announced a proposal to acquire Falconbridge for $12 billion. This came at a time of especially high prices for base metals, including nickel. Part of the motivation for the merger was to avoid a takeover of either company by cash-flushed foreign competitors. Additionally, significant synergies would have been realized in the Sudbury operations in Project Pentlandite, with both companies performing the same kind of extraction and smelting work on the same kind of ore.
The two companies were set upon by hostile takeover bids from rival firms. Swiss Xstrata, already 19.9% owner of Falconbridge, bid for a complete acquisition, while Teck Cominco of Vancouver set its sights on Inco.
On 13 May 2006, Inco announced that it increased its offer to acquire Falconbridge by $5.00 CAD per share, bringing the bid to $61.04 CAD per share (based on 23 June 2006 Inco/Phelps Dodge share price).[5]
On 26 June 2006, Phelps Dodge made a bid for the proposed combined Inco/Falconbridge company, valued at around US$40 billion. This would have formed the Phelps Dodge Inco Corp., valued at US$56 billion, creating the fifth largest mining company, largest nickel producer, and the second largest copper producer in the world with corporate and copper division headquarters located in Phoenix, Arizona and nickel division headquarters in Toronto, Ontario. The deadline for the Inco offer was 13 July 2006.
On 18 May 2006, Xstrata had announced a proposal to acquire Falconbridge for $52.50 CAD per share. This was a cash offer, unlike the Inco offer of a combination of cash and shares. On 12 July 2006, Xstrata announced that it increased its offer to acquire Falconbridge to $59.00 CAD per share (an approximate total value of $22.5 billion CAD). This counter-offer was 9.6% higher than Inco's bid. The deadline for Xstrata's bid to be complete was 21 July 2006. Xstrata acquired and absorbed Falconbridge in late August 2006, leaving Inco open to bids by Phelps Dodge and the Brazilian company CVRD Falconbridge became Xstrata Nickel, which continued to be based in Toronto.
1 May 2013 Glencore completed purchase of Xstrata.