P.M. BRIEFING : Bidding for Falconbridge Heats Up
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<i> From Times wire services </i>
TORONTO — Noranda Inc., the big Canadian mining and forestry concern, said today that it and a Swedish conglomerate will offer $1.87 billion for Falconbridge Ltd., the nickel mining giant that has agreed to be acquired by AMAX Inc.
Noranda and the Swedish group Trelleborg AB already own a total of 21.5 million Falconbridge shares, or 31.2%.
Noranda has long been known to have an interest in taking over Falconbridge, one of Canada’s best-known companies.
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