Fasken Martineau, Webber Rep Vale In $1B Copper Deal

Law360, New York (April 8, 2011, 7:46 PM EDT) -- Brazil's Vale SA, a metals and mining company, announced Friday a $1.1 billion offer to pick up South Africa's Metorex Ltd. in an effort to become one of the largest copper producers in the world.

Vale will make a cash offer through a subsidiary to snatch Metorex's share capital at 7.35 South African rand ($1.10) each. The offer is 20 percent more than Metorex's stock closing price March 25, according to Vale.

The Rio de Janeiro-based mining company, the world's largest iron ore producer, said the...
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