Alcoa withdraws Alcan offer after Rio Tinto deal
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Alcoa Inc.  said on Thursday it has withdrawn its $29 billion offer for Alcan Inc.   in light of Rio Tinto's   agreement to purchase the Canadian aluminum company for $38 billion.
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Rio Tinto , the world's second-biggest miner, is considering gatecrashing Alcoa Inc.'s  $28 billion hostile bid for North American rival Alcan Inc. , sources familiar with the matter said on Friday.
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Rio Tinto  , the  world&#39;s second-largest mining group, on Tuesday dismissed talk  that it was lining up a bid for Canadian aluminum maker Alcan   as speculation, but did not to deny the rumor outright.
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Mining firm Rio Tinto rejects a $147bn hostile takeover offer from rival BHP Billiton.
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Alcan Inc., the world's second-largest producer of primary aluminum, said on Thursday it plans to close three European plants, downsize four sites and sell two others for the loss of about 520 jobs.
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Alcoa Inc. , which has launched a hostile offer for Canadian rival Alcan Inc.  , said on Tuesday that it signed for a $30 billion credit facility with its lenders that it would use to pay for Alcan shares.
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Global miner Rio Tinto was near a deal  to buy Canadian aluminum giant Alcan Inc. for about $100 per  share, or $37 billion, The Wall Street Journal Online reported  on Thursday.
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Global miner Rio Tinto was near a deal to buy Canadian aluminum giant Alcan Inc. for about $100 per share, or $37 billion, The Wall Street Journal Online reported on Thursday.
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MONTREAL (CP) - Alcan Inc. said Thursday it has reached an agreement to sell its ferroalloy division to a Spanish company in a deal expected to be worth more than 100 million euros or about $165 million Cdn.
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LONDON/MONTREAL  - Rio Tinto  , the world's second-biggest miner, is considering gate-crashing Alcoa Inc.'s  $28.6 billion hostile bid for Alcan Inc.  , sources familiar with the matter said on Friday.
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The FTSE 100 closed up after a turbulent trading session that was dominated by consolidation within the mining sector following Rio Tinto&#39;s 38.1 billion dollar bid for Alcan, dealers said Thursday.
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Alcan Inc.   has begun negotiating a $34 billion friendly offer from Rio Tinto PLC  to fend off a hostile $28.6 billion bid from U.S. rival Alcoa Inc. , newspapers said on Wednesday.
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The aluminum maker extended its takeover offer to rival Alcan and said second-quarter profit slipped by nearly 4 percent
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Anglo-Australian mining giant Rio Tinto struck a deal Thursday to buy Canada&#39;s Alcan, outbidding US rival Alcoa in a mammoth move that would create the world&#39;s largest aluminium company.
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SYDNEY/LONDON  - Anglo-Australian miner Rio Tinto Ltd/Plc   signed a $38.1 billion cash deal to buy Canada's Alcan Inc. , creating the world's biggest aluminum producer, the companies said on Thursday, trumping a hostile offer from Alcoa Inc .
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Alcoa Inc. is being targeted by two foreign mining giants who are each preparing $40 billion takeover bids for the aluminum producer, a British newspaper reported. Alcoa shares rose $2.10, or 6.4 percent, to $35, yesterday although some analysts questioned whether such a deal was likely.
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MONTREAL/NEW YORK  - Alcan Inc.   has rebuffed requests by Alcoa Inc.  for a meeting to discuss Alcoa's hostile $28.6 billion offer for the Canadian aluminum producer, a regulatory filing showed on Tuesday.