RIO DE JANEIRO, Brazil, March 25 /CNW/ -- Vale informs that it put
forward an indicative proposal to Xstrata Plc (Xstrata) that included a cash
and shares offer for 100% of Xstrata which it believes would have created
significant value for both sets of shareholders.
Given that an agreement was not reached, discussions between the parties
have been discontinued.
For the purposes of Rule 2.8 of the City Code on Takeovers and Merger
(the City Code), Vale reserves the right to announce an offer or possible
offer or make or participate in an offer or possible offer for Xstrata and/or
take any other action which would otherwise be restricted under Rule 2.8 of
the City Code within the next six months in the event that: (i) an agreement
or recommendation from the Board of Xstrata is forthcoming; or (ii) there is
an announcement by a third party of a possible offer or a firm intention to
make an offer for Xstrata or Xstrata announces that it has received an
approach in relation to a possible offer from a third party; or (iii) Xstrata
announces a "whitewash" proposal for the purposes of Rule 9 of the City Code
or a reverse takeover; or (iv) there is a material change in circumstances.
For further information:
For further information: Roberto Castello Branco,
email@example.com, or Alessandra Gadelha,
firstname.lastname@example.org, or Patricia Calazans,
email@example.com, or Theo Penedo, firstname.lastname@example.org, or Marcus
Thieme, email@example.com, or Tacio Neto, firstname.lastname@example.org, all of
Vale, +011-55-21-3814-4540 Web Site: http://www.cvrd.com.br