The Canadian mining firm Inco is pushing ahead with its friendly takeover of US outfit Falconbridge, despite attempts by another company pursuing a takeover of Inco, which attempted to halt the deal.

Canadian mining firm Teck Cominco recently launched a takeover move for Inco that was dependent on the ending of the company's deal with Falconbridge.

Inco announced that it had come up with an enhanced offer for Falconbridge, with both companies' boards endorsing the deal.

"The enhanced terms reflect the change in metal market dynamics and the additional value created in Falconbridge because of higher metal prices," said Scott Hand, chairman and chief executive of Inco.

"They also demonstrate our continuing conviction that combining Inco and Falconbridge to create the great company that the new Inco will be is in the best interests of shareholders of both companies over the long term."

Although no mention of the Teck bid was mentioned in the joint statement, Mr Hand added that the company would "continue to evaluate appropriate strategic alternatives that would serve the best interests of our shareholders".

Ÿ Adfero Ltd