Posted AT 5:56 AM EST on 24/05/07
LionOre shortsighted on Xstrata break fee
Suppose the bright lights at Inco had done things differently. Suppose, when they tried to buy Falconbridge a couple of years ago, they'd used an iron fist instead of velvet gloves.
The value of the original deal, back in 2005, was $12.5-billion. The break fee due to Inco if the deal fell apart was 2.6 per cent of the purchase price - hardly excessive by the modern standards of Bay Street. That was a mistake.
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