LONDON (Thomson Financial) - Brazil's Vale, the world's largest iron ore
producer, said Thursday it is not in talks to buy any company and it is not
discussing the financing of an acquisition with banks.
The company made the statement in response to speculation in the Brazilian
press.
Anglo American Plc., Freeport-McMoRan Copper and Gold Inc. and Alcoa Inc.
have all been mentioned as possible takeover targets.
In March, Vale's attempt to buy Xstrata Plc. failed. Under U.K. takeover
panel rules, Vale is unable to make a hostile offer for Xstrata for six months
after the talks stalled, but it is able at any time to make a recommended bid or
a counter offer if a rival company shows an interest.
julie.crust@thomsonreuters.com
jc/sal
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