Globe and Mail – Atticus Capital LLC, the New York hedge fund that recently helped scuttle Phelps Dodge Corp.’s friendly bid for Inco Ltd., is now talking with potential buyers for the U.S. copper producer.<\/p>\n
In a regulatory filing, Atticus, which is Phelps’s largest shareholder, said it had begun shopping the Phoenix-based company to possible suitors.<\/p>\n
Atticus said it \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cand an investment bank recently met with several potential investors, including private equity firms and strategic buyers, to discuss each firm’s possible interest in pursuing an acquisition of the company,\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d the filing said.<\/p>\n
There was no indication of the level of interest from the potential acquirers for North America’s largest copper producer, whose current market value is $18.3-billion (U.S.).<\/p>\n