Rio de Janeiro-Vale S.A. said Sept. 1 that in the auction of the tender offer to acquire shares of Paranapanema S.A. (Paranapanema) scheduled to take place Sept. 1 (GM Aug. 2, 2010), the number of Paranapanema shares tendered did not reach the minimum threshold upon which the tender offer was conditioned – 50 percent plus one share. As a consequence, no Paranapanema shares were acquired by Vale. Reportedly, only 38 percent of the shares were tendered to Vale. Paranapanema, a leading copper producer in Brazil, also has a stake of 99.09 percent in Cibrafértil, which operates a phosphate fertilizer plant.
Transparency Across the Fertilizer Value-Chain