Teck Cominco Ltd. sweetened its bid for nickel giant Inco Ltd. today to $89 a share
Aug. 15, 2006

Teck Cominco Ltd. sweetened its bid for nickel giant Inco Ltd. today to $89 a share in an attempt to trump Companhia Vale do Rio Doce.

Vancouver-based Teck said the bid, which will now include $71.20 a share of cash, will be its "best and final offer." To finance the plan, Teck will attempt to sell $5.7-billion of stock tonight. Brazil's CVRD on Friday bid $86 a share in cash. Phelps Dodge Corp. of Arizona is also chasing Inco with a cash-and-stock bid that is considered out of the running because it contains only $20.25 in cash.

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