The EU Commission conditionally clears a merger in the mining industries breaking new ground in the Commission’s practice with regard to efficiencies and remedies in merger cases (Inco / Falconbridge)

Inco/Falconbridge: A nickel mine of applications in efficiencies and remedies*1. Introduction Following an in-depth investigation, on 4 July 2006, the Commission approved the acquisition by Inco Limited (“Inco”) of Falconbridge Limited (“Falconbridge”), subject to conditions and obligations. This decision was adopted in the context of a wave of takeover bids, friendly and hostile, in the mining industry, with record-high commodities prices. Inco and Falconbridge are both Canadian mining companies active worldwide in the mining, processing, refining and sale of various nickel products, copper, cobalt and precious metals. On 11 October 2005, Inco announced a friendly takeover bid for Falconbridge, which would have created the largest nickel company worldwide, “New Inco”. Although the

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Sophie Moonen, Pierre Lahbabi, Caroline Boeshertz, The EU Commission conditionally clears a merger in the mining industries breaking new ground in the Commission’s practice with regard to efficiencies and remedies in merger cases (Inco / Falconbridge), 4 July 2006, e-Competitions July 2006, Art. N° 36747

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