CVRD To Canico: Offer Remains The Same

Brazilian iron-ore producer Companhia Vale do Rio Doce (CVRD) has said it will not raise its offer for Canadian nickel-producer Canico but remains interested in buying the firm. CVRD last month offered C$17.50 per share for Canico but the Vancouver-based company has advised its shareholders to reject the offer, saying the bid is too low.