CAPITAL MARKETS

Sherritt makes C$1.6 billion bid for Fording

CANADA'S Sherritt International Corp has launched a C$1.6 billion hostile bid for compatriot Fording, the country's largest export coal producer with a capacity of more than 20 million tonnes of metallurgical and thermal coal.

Greg Tubby

Mining and energy company Sherritt, best known for its Cuban nickel laterite operations, said it would offer C$29 in cash for each Fording share, in partnership with the Ontario Teachers' Pension Plan...

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