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Teck Cominco to Buy Fording Assets
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Zinc giant Teck Cominco(TCK Quote) will acquire all the assets of Fording Canadian Coal Trust (FDG Quote) in a cash and stock deal.
The transaction is estimated to be worth $13.9 billion, of which $12.4 billion will be in cash. The assets being acquired include royalties from Fording's 60% interest in the Elk Valley Coal Partnership.
Elk Valley operates six mines in Alberta and British Columbia that produce high-quality hard coking coal. ...
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