Teck rules out bid for Phelps Dodge
Nov 30, 2006 | 09:22 AM
| Meghann McDonell
Teck Cominco Ltd., Vancouver, British Columbia, will not make a play for Phelps Dodge Corp., Phoenix, as the Canadian company turns its attention to smaller acquisitions after losing out on its bid for nickel giant Inco Ltd.
Speaking Thursday at the Bear, Stearns & Co. Inc. 2nd Annual Commodities and Capital Goods Conference in New York, Mike Agg, Teck's vice president of refining and metal sales, reiterated that the company was not interested in acquiring larger assets and ruled out interest in Phelps Dodge, which....
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