Winnipeg Free Press

Winnipeg Free Press (Newspaper) - August 1, 2006, Winnipeg, Manitoba b6 Winnipeg free press tuesday August 1, 2006 business 0 Down continues Cummins diesel auto., air tilt cruise anti spin Tow Hooks Boliner & More. Teck hikes hostile takeover bid for Inco by Drew Hasselback t Oronto ? Teck Cominto Ltd. Has hiked its hostile takeover offer for Inco Ltd. In a move that could smoke out competing bids. Vancouver based Teck is offering the equivalent of $83.60 for each Inco share a move that boosts the value of Teck a original bid by 13 per cent. The sweetened bid is lower than both a competing offer from Phelps Dodge corp. And Inco a closing share Price yesterday. That a a very deliberate Choice said Don Lindsay Teck a chief executive. We know the share Price is higher than our bid but we chose not to Chase Toronto based Inco is up for grabs after last week failing to close its Friendly bid for Falconbridge Ltd. Inco Falconbridge and Phelps were to merge in the largest mining Deal in Canadian history. Inco is now recommending its shareholders shun Teck a bid and consider a Friendly two Way Deal with Phelps. Phelps offer values Inco at $86.65. Inco closed on the Toronto Stock Exchange at $87.45, up 88 cents. The Market is clearly gambling that Teck and Phelps Arent the Only companies interested in Inco. Global giants such As Brazil based card or London based Rio Tinto could be interested in Inco because it is the worlds second largest Nickel producer. There a strategic value in Inco said Kerry Smith mining analyst with Hay Wood securities in Toronto. If you want to get in the Nickel business you re never going to get another Chance like this ? can West news service wheat Board continued from Page b4 in years past the initial payment had been set at about 75 per cent of what the wheat Board expected to receive in total from its Pool accounts Fitzhenry said. Farmers can receive adjustment pay ments throughout the crop year if the Board and Ottawa feel they re justified. They get a final payment months after the crop year ends once the Board has totalled up the amount it has received in the marketplace and has deducted its costs. Also yesterday the wheat Board announced that the initial payment for top Grade pasta making durum wheat would be $118 a tonne compared with a projected total return of $192. The initial payment for no. 1 feed bar Ley was set at $74 a tonne compared with an expected return of $124. Two Row and six Row malting Barley was set at $117 and $111 a tonne respectively compared with expected returns of $174 and $168. David Rolfe president Keystone Agri cultural producers said at a time when Farmers need All the Cash flow they need wheat Board minister Chuck Strahl should have paid heed to the wheat boards recommendations. I would have hoped that the minister would have respected the Market knowl Edge of the Canadian wheat Board and held the initials As High As possible Rolfe said. East Selkirk Farmer Doug Chorney agreed that the initial payment is Low but he a largely unaffected by it. Using a program available through the wheat Board that Many Farmers choose not to use or Are unaware of Chorney was Able to lock in a substantial amount of his wheat crop at a profit this year. Earlier this year he exercised an option to take advantage of a rally on the min Neapolis futures Market in which he locked in a Price after freight and handling of nearly $5 a Bushel $183.50 a tonne. The initial payment is Low but its not really an Issue to producers who Are Fol lowing the markets closely said Chor Ney. He said its important to Point out in the debate Over dual marketing that the wheat Board has already evolved so that Farmers like him can deliver their Grain outside the Cwb spooling system. Chorney said he believes its a fallacy that there Are great Market opportunities outside the Canadian wheat Board. Marc Gallant / Winnipeg free press Farmer Doug Chorney was Able to lock in a substantial amount of his wheat crop at a profit this year. 2006 Dodge ram 2500 2006 jeep commander 4x4 Quad cab 0 Down 3.7lv6, air tilt cruise pad Podl cd player rear air a Heater St. #6515 St. #6582 1 900 main Street ? 339-2 0 1 1 ? 1-800-665-89 1 0 ? wow easter Chr Ysler com 20,400 pm or plus taxes optional buyout. See dealer for details. Sale ends aug. 8/06 Toonie tuesday buy any medium or Large pizza at regular Price and receive second for$2.00 please present this Coupon before ordering. Not valid with any other offer. No Cash value. Limit one Coupon per customer per at participating Manitoba locations. Expiry Date August 31, 2006 ;