Teck executive rules out PD offer as company eyes smaller targets

Nov 30, 2006 | 02:12 PM | Meghann McDonell

Teck Cominco Ltd. will not make a play for Phelps Dodge Corp., Phoenix. Instead, the Canadian company will turn its attention to smaller acquisitions after losing out on its bid for nickel giant Inco Ltd.

Mike Agg, Teck's vice president of refining and metal sales, reiterated that the Vancouver, British Columbia,-based company is not interested in acquiring larger assets and ruled out interest in Phelps Dodge, which is being pursued by Freeport-McMoRan Copper & Gold Inc. New Orleans-based Freeport recently launched a....

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