'Friendly takeover' under way

TORONTO, Ontario - Falconbridge LTD, which merged with Noranda Aluminum earlier this year, is reporting a "friendly takeover" of the company. Noranda is one of Southeast Missouri's largest employers. Inco Limited's takeover with an offer of cash and Inco common shares for all outstanding Falconbridge common shares was approved Tuesday by the respective Boards of Directors. The combined organization will be known as Inco Limited. In March, Noranda, based in Toronto, acquired Falconbridge LTD. At the time of the previous acquisition, local Noranda officials stated the purchase would not impact the aluminum reduction plant located in Marston.