Falconbridge Sit tight Mick

Xstrata lost out again. That’s one way to read Canadian miner Inco’s agreed takeover of rival Falconbridge. After all, Xstrata looked like it was in line to acquire the copper and nickel producer when it nabbed a 20% stake in August. Now Inco and Falconbridge appear to have stitched up their own nifty deal. The net present value of Inco’s promised pre-tax savings of about C$410m – even once taxed and discounted to reflect the fact they will not arrive for two years – are worth some C$1bn more t...