Rio Tinto nears deal to acquire Alcan of Canada: bid of about $37 billion would thwart Alcoa; consolidation pressure

Article Abstract:

Australia's Rio Tinto Ltd. is in the final stages of negotiating an agreement to buy Canada's aluminum company Alcan Inc. Alcan is currently staving off a hostile takeover bid from US-based Alcoa Inc. The agreement is expected to be an all-cash deal valued at approximately $37 bil, or nearly $100 per share. The deal would top Alcoa's bid of $27.94 bil.

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Talk of Rio Tinto as Alcan's suitor stirs skepticism

Article Abstract:

Reports indicate Anglo-Australian mining company Rio Tinto Ltd. may make a bid for Canadian aluminum firm Alcan Inc. The offer is likely to exceed $27 bil, as Alcan rejected a $27 bil bid from U.S.-based Alcoa Inc. as too low. Industry analysts questioned the advantages of a Rio Tinto - Alcan merger.

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Alcoa moves close to deal to acquire WMC for $6 billion

Article Abstract:

Alcoa Inc. is close to reaching a deal to acquire Australian mining firm WMC Ltd. The cash-and-stock deal is valued at $6 billion.

United States, Australia, Asset sales & divestitures, Foreign operations, Aluminum, Primary Aluminum Production, Aluminum products, WMC Ltd.

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