Winnipeg Free Press

Winnipeg Free Press (Newspaper) - August 17, 2006, Winnipeg, Manitoba b6 Winnipeg free press thursday August 17 2006 business takeover of Nickel Miner Teck Cominto pulls out of Inco bidding War takeover bids for Nickel Miner Inco Ltd. Teck Cominto Ltd. Cash and share bid currently valued at $18.5 billion or $92.67 a share at yesterday a prices. Offer expired aug. 16. Bid would have been raised to $89 per share or $17.8 billion if Stock Issue Worth $5.7 billion had been successful. First bid initially valued at $17.8 Bil lion or $28 per share in Cash and 0.6293 of a Teck share. Campania Vale do Rio Doce. Cash bid valued at $17.2 billion or $86 a share. . Offer expires sept. 28. . Inco opened the door to talks with card tuesday although it officially sup ports Friendly suitor Phelps Dodge corp. Phelps Dodge corp. Sweetened bid initially valued at $15.9 billion or 0.672 of a share and $20.25 in Cash. . Worth $17.8 billion at yesterdays prices. . Inco shareholders will vote on sept. 7. . Phelps shareholders will vote sept. 25. . Offer supported by Inco. . Bid initially included Falconbridge Ltd., ultimately acquired by rival suitor Swiss Miner strata. ? Canadian press looking for a Home phone loaded with features primary Home line Shaw digital phone is a Home phone service that gives you More features than you Ever thought possible including Voicemail Call waiting and Call display. You la also get unlimited Long $2995 per month International Long distance minutes to Europe and Asia Pacific. From introductory offer you can switch for just $29.95 a month for the first six by Romina Maurino t Oronto ? Teck Cominto Ltd. Tax Lone Canadian bidder for Inco Ltd. Tax pulled itself out of the race yesterday and cleared the Way for a foreign takeover of the Nickel Miner. After an 11th-hour overnight scram ble for financing Vancouver based Teck called off a planned $5.7-billion Stock Sale ? one of the largest in Canadian his tory ? that would have enabled it to boost its offer for the Toronto company. That leaves brazils card nose Rio in the Lead with its Cash offer of $17.2 billion for Inco. Teck said it was sticking with its previous Cash and shares bid Worth about $16.5 billion set to expire last night. Ceo Don Lindsay said the company received Strong support from a Large number of institutional investors after the equity financing Effort was announced tuesday afternoon but could not come to terms that made sense for Teck. Accordingly we will not Amend or extend our bid for Inco he said. A Long list of institutional investors did commit to investing several billion dollars in support of the equity offer in a series of meetings that went late into the night Lindsay said in an interview. It was a pretty Large size required and really very Little available he said. But it want enough for us to be Able to Structure a Deal that would be Able to give All Cash to arbs arbitrage investors in new York and they be taken a Large enough position in Inco that they really dictated the if the offering was successful it would have reportedly resulted in the Issue of about 74 million shares at $78 per share although Teck would not confirm any figures. What they were trying to do was extremely convoluted and it was huge underwriting ? almost $6 billion ? and to try to do it in one evening that a a pretty Tough task said John Kinsey a portfolio manager at Caldwell Securi ties which holds Inco and Teck Stock. It obviously could to been done so they be gone to plan 2.? Teck spokesman Doug Horswill said the idea for the offering emerged from a lot of thinking from a lot of people Over a very Short period of ? Canadian press Ken Gigliotti / Winnipeg free press Michael Mcmullen is flanked by District manager Shannon Reid left and Donna Lamoine director of store operations at new Winnipeg outlet. Relax watch to at new warehouse one outlet by Geoff Kirbyson warehouse one wants its customers to be As relaxed As possible at its newest Winnipeg store. The locally based jeans retailer is unveiling its latest concept today at a 4,000-Square-foot location at Kenaston Boulevard and Lindenwood drive East. The House party feel of the Well lit store ? the company a ninth in its Hometown ? features a lounging area with leather armchairs ottomans and a Flat screen television. Michael Mcmullen president of warehouse one said he wanted to differentiate his Brand from Broad retail trends catering to people with a Darker nightclub atmosphere. We re More about inviting people into our Home. We want our guests to feel comfortable As if they re at a House party. It should feel like somebody Sliv ing room or Den he said. Mcmullen added there a no question the lounge is primarily geared towards men. I be been told males Arent As committed to the shopping process As their wives and girlfriends. They want a place to hang out. They can pass the time watching music videos and its near the change rooms so they can nod approval when their wives come out he said. Another new feature at the store is customer restrooms. Mcmullen said the idea sprung from his own experience of walking into stores and being inundated with messages that neither food nor drink were allowed and customers would have to find washrooms elsewhere. We spend a lot of time and Money to invite customers into our stores it follows that we should provide an environment in which they also feel Welcome he said. Winnipeg in to the Only City in which warehouse one is christening a new store today. Its the first Day for a new location in Squamish b.c., As Well. By the time it cuts the ribbon at stores in Lang Ford b.c., Halifax and Sault Ste. Marie within the next four months its network will have grown to 104 outlets including 11 new additions this year. The stores growth represents the first expansion of bricks and mortar since new investors including Bob Silver owner of Western Glove works Ltd. And part owner of the Winnipeg free press purchased the company out of bankruptcy in 2003. Canadian manufacturers treading water distance calling within Canada and the ., As Well As 1000 Toronto ? Canadian manufacturing shipments trend in shipments remains meagre suggesting unexpectedly Rose by 1.9 per cent to $51.4 billion in that Canadian manufacturers Are treading water months. Call 480-Shaw to Book your complimentary installation. June ? their highest level since january ? As ship observed to economist David Tulk. Ments of motor vehicles and Energy products Given that More than half of All manufacturing 24/7/365service fuelled gains. While that surprising showing smashed a consensus forecast for a 0.4 per cent decline economists warned yesterday the slowing Economy continues to cast a pall Over the Canadian Manu shipments Are exported the health of the Econ omy is of crucial importance for the sector. This is particularly True for the aerospace and motor vehicle industries which each ship More than 80 per cent of their output outside of introductory offer of $29.95 per month for the first 6 months Only. After the 6 month promotional period Standard Shaw digital phone rates apply. This offer applies to new Shaw digital phone customers Only. Must not have had Shaw digital phone in the past 60 Days. No internet connection required. Unlimited Long distance is intended for residential calling Only. Chat lines data fax commercial use and or Long distance Calls made using Call Forward and 3-Way calling Are prohibited. Shaw digital phone tax 60 factoring sector. Includes Only 1000 minutes of International calling per month and is limited to specified destinations. Mobile phone and outlying territory terminations Are not included except where noted on . Additional 1000-minute blocks of minutes Are ? Canadian press available for $20/month and can be purchased through a Shaw customer service representative. International Calls placed outside of the included International calling area Are subject to regular Shaw International direct per minute calling rates. So despite the monthly pick up the longer term end of the y ear 2006 Carof the year. Truck of the year. Sale s e v ent to 2006 our biggest sales event Best selection of the year today Purchase financing free 36 months . Gas for a year. 1.9% on All 2006 accords on every in Stock ?06 Accord Accord Sedan be lease for lease apr be package Cost $3,262 fresh new looks increased Power you pay Only $1,500 plus enhanced value. Accelerate $328@ 2.9% value Price your driving pleasure with an array of per month for 48 months . Advantage $1,762 $0 Security Deposit desirable Accord be features that add Accord Sedan be Model cm5636j $28,810 Srp extra Comfort style and sophistication. Honda offers one of the most fuel efficient line of vehicles. Birchwood Honda on Regent Winnipeg Honda Birchwood Honda West 1401 Regent ave. West in the Auto mall Pointe West Auto Park Hwy. 12 n. Steinbach Harvest Honda Winnipeg Waverly & Bishop Grandin Portage at the perimeter Hwy., 1-800-487-8341 ? 326-1311 1-877-505-8689 Winnipeg Winnipeg 204-261-9580 1-877-627-3634 lease and finance offers Are from Honda Canada finance inc., on approved credit. Based on a 2006 Accord Sedan be Model cm5636j. Lease for 48 months at $328.00 per month plus applicable taxes with 96,000 pm allowance 12?/km exceeding allowance. $3,394.53 Down payment or equivalent Trade acceptable to dealer. Initiation payment of $4,340.66 includes Down payment first monthly payment Security Deposit of $0, tire & Battery Levy a a tax freight and . And taxes. Total freight and . Is $1,310.00. Total lease obligation is $21,760.74. Taxes License and insurance Are extra. Option to Purchase at lease end for $11,825.00 plus taxes. Accord leases calculated with interest rate of 2.9%. 1.9% Purchase financing is available on in Stock 2006 accords for up to 36 months. Representative finance example based on a 2006 Accord Sedan be Model cm5636j $28,810.00 at 1.9% per annul equals $823.94 per month based on a 36-month term. . Is $851.68 for a total obligation of $29,661.68. Offers valid from August 1st, 2006 through August 31st, 2006 at participating dealers Only. See participating dealer for details. Free Gas for a year offer equates to $1,743.00 on 2006 accords. Fuel Cost amount is fixed and has been determined As follows using 2006 ene guide ratings a estimate of annual fuel consumption is based on 2006 Accord with 2.4l engine and manual transmission driving a distance of 20,000 pm with a mix of 55% City driving and 45% Highway driving. A detailed calculation of annual litres used is available at b fuel Cost estimate is $1.103 per litre which is the Canadian National 4-week average Cost of fuel up to the week of july 31st, 2006. Offers subject to change by manufacturer at any time. May not be combined with any other promotion. Srp includes freight and . Of $1,310.00. Taxes extra. Dealer May sell lease for less. Based on the retail value of ;