What's the Deal With Inco?

Inco was supposed to have been bought out by Phelps Dodge.

That deal was nixed by Phelps Dodge shareholders, and ultimately, the board of directors.

Does anyone know now what will happen with Inco?

Are there any pending offers in the wings?

Thanks!

 

Anyone?


Inco (Symbol: N) is a copper/nickel producer (more nickel than copper, though).

Zinc, as copper, has been in short supply, and the prices booming, for the last 4 years.

That, however, is changing rapidly.

Now, I can short Phelps-Dodge, but it costs a helluva lot more than shorting Inco.

But even though Phelps-Dodge has dropped its Inco bid, if Inco has another buyer in the wings, it makes a put option play on Inco quite dangerous.

Any opinions?

 

Vale (RIO) has an all-cash offer outstanding for Inco.

 

Thanks illiquid.

I thought that that deal had been nixed, as well, once the Phelps-Dodge bid came along?