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Vale’s Nickel Unit a Good Target for Former Xstrata CEO
Jan. 15, 2015 03:51AM PST
Base Metals Investing Reuters reported that the nickel business of Vale SA (NYSE:VALE) is a good target for Mick Davis, former CEO of Xstrata. However, his reported offer price of $5 to $7 billion is considered to be low.
Reuters reported that the nickel business of Vale SA (NYSE:VALE) is a good target for Mick Davis, former CEO of Xstrata. However, his reported offer price of $5 to $7 billion is considered to be low.
As quoted in the market news:
On Tuesday, Bloomberg reported that Davis, who runs London-based mining startup X2 Resources, is considering a $5 billion to $7 billion offer for Vale’s nickel assets.
A spokesperson for Vale, the world’s second-largest producer of nickel, told Reuters on Tuesday no offer had been received and no talks held.
Citigroup analyst Alex Hacking stated:
Any offer at this level … would be far too low for Vale to consider, in our view.
