Noranda, Minmetals deal should close in 1st-qtr. '05

Oct 28, 2004 | 11:39 AM | Kevin Foster

Noranda Inc. said Thursday that the due diligence portion of its planned takeover by Chinese trading giant China Minmetals Corp., Beijing, was nearly over, but that a final deal wasn't expected until sometime in the first quarter of 2005.

"The due diligence process, I believe, is drawing to a close," Derek Pannell, Noranda's chief executive officer, said in a conference call. "Legal documents are being prepared . . . I'm unable to estimate when any final document would be signed, but the closure of the transaction is unlikely before the first-quarter of 2005."....

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