Metorex Gets Unsolicited Expression of Interest
June 17, 2011, 2:12
By Alastair Reed
(Updates with company comment in second paragraph.)
June 17 (Bloomberg) -- Metorex Ltd., a $1.1 billion target for Brazil’s Vale SA, said it received an unsolicited approach from another party.
Certain conditions must be met before the interested party decides to bid, Metorex said today in a statement. “There is currently no certainty that Metorex will receive a firm intention to make an offer from the alternate party,” it said.
Vale, seeking to boost copper output almost fivefold to 1 million metric tons by 2015, bid 7.35 rand ($1.07) a share for Johannesburg-based Metorex on April 8 in a deal that would give the Brazilian company the Ruashi open-pit mine in the Democratic Republic of Congo, as well as the Chibuluma underground copper project and the Sable zinc operation in Zambia.
Vale, based in Rio de Janeiro, is pursuing copper acquisitions as it seeks to diversify beyond iron ore.
Ce que l'on conçoit bien, s'énonce clairement, Et les mots pour le dire arrivent aisément. BOILEAU