Nov 8 2006
Companhia Vale do Rio Doce (CVRD) announces that, as at the expiry time of the subsequent offering period on November 3, 2006, an additional 21,455,257 common shares of Inco Limited (Inco), including shares deposited by guaranteed delivery were deposited to the offer made by CVRD to acquire all of the outstanding common shares of Inco for C$86.00 in cash per Inco common share.
CVRD has taken up all of the Inco common shares that were deposited to the offer during such period and payment for such Inco common shares to the depositary, Computershare Investor Services Inc., is expected to be completed by no later than November 8, 2006.
Combined with the 174,623,019 Inco common shares taken up by CVRD in respect of the initial offering period that ended on October 23, 2006, CVRD now beneficially owns 196,078,276 common shares of Inco or 86.57% of the issued and outstanding common shares of Inco on a fully diluted basis.
In accordance with its stated purpose of acquiring 100% of the issued and outstanding shares of Inco, CVRD will seek to have Inco to call immediately a special meeting of shareholders of Inco to consider an amalgamation or other transaction for the purpose of enabling CVRD to acquire all of the remaining shares of Inco.