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Economy & Business - March 2008 (ISSN 1741-7430)
BRAZIL: CVRD pulls out of bid for Xstrata
On 25 March Brazil's Companhia Vale do Rio Doce (CVRD) dropped its
takeover bid for its Anglo-Swiss rival Xstrata, after Xstrata rejected a cash
and stock offer worth an estimated US$90bn. If the deal had gone through it
would have been the biggest ever takeover by a Latin American company.
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