Inco Ltd. has agreed to pay nearly $11 billion in cash and stock for Falconbridge Ltd. in a deal between two of Canada’s top mining companies that will form the world’s largest nickel producer.
Under terms of the deal announced Tuesday, Falconbridge shareholders will receive 0.6713 Inco shares, a cash payment or a combination of shares and cash valued at about $28.80 for each Falconbridge share they own. With 369 million shares of Falconbridge outstanding, the deal is worth $10.6 billion.
