
Canico agrees to takeover by Brazil's CVRD CBC \|\| November 12, 2005 [KDR: Another Canadian company taken over by a foreign megacorp. CVRD's website states that they are "the largest diversified mining company in the Americas and the fourth largest company in the global metals & mining industry, with a market capitalization of approximately US$ 39 billion." The CBC article also mentions that they are a Brazilian company but they are 67.6% foreign owned. Related article: In the Last 20 Years 11,380 Canadian Companies Taken Over] Canico Resource Corp. has accepted an $870-million takeover bid from Companhia Vale do Rio Doce after the Brazilian mining company boosted its offer. Canico (TSX:CNI) said Friday it has agreed to CVRD's new cash bid of $20.80 per share. CVRD's initial bid of $17.50 was turned down by Canico's board of directors last month. FROM Oct. 12, 2005: Canico turns down takeover bid from Brazilian miner Canico owns the Onca Puma nickel mining project in Brazil. CVRD said shareholders who collectively hold approximately 11.5 per cent of the outstanding Canico common shares have already agreed to tender their holdings. Article Posted at www.KnowledgeDrivenRevolution.com The deal includes a $32.8-million break-up fee payable to CVRD by Canico if their deal is not completed. Based in Vancouver, Canico is a junior mining company. About KDR \| \| Home \| \| Weekly Features Archive	Weekly
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Canico agrees to takeover by Brazil's CVRD

CBC || November 12, 2005

[KDR: Another Canadian company taken over by a foreign megacorp. CVRD's website states that they are "the largest diversified mining company in the Americas and the fourth largest company in the global metals & mining industry, with a market capitalization of approximately US$ 39 billion." The CBC article also mentions that they are a Brazilian company but they are 67.6% foreign owned. Related article: In the Last 20 Years 11,380 Canadian Companies Taken Over]

Canico Resource Corp. has accepted an $870-million takeover bid from Companhia Vale do Rio Doce after the Brazilian mining company boosted its offer.

Canico (TSX:CNI) said Friday it has agreed to CVRD's new cash bid of $20.80 per share. CVRD's initial bid of $17.50 was turned down by Canico's board of directors last month.

FROM Oct. 12, 2005: Canico turns down takeover bid from Brazilian miner

Canico owns the Onca Puma nickel mining project in Brazil.

CVRD said shareholders who collectively hold approximately 11.5 per cent of the outstanding Canico common shares have already agreed to tender their holdings.

Article Posted at www.KnowledgeDrivenRevolution.com

The deal includes a $32.8-million break-up fee payable to CVRD by Canico if their deal is not completed.

Based in Vancouver, Canico is a junior mining company.

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