B2B Portal for Technical and Commercial Foundry Management
Foundry Daily News

Alcan said to begin merger talks with Rio Tinto

NEW YORK (Reuters) - As to the merger - rumors  Alcan Inc. has begun negotiating toward a merger agreement with Rio Tinto  to fend off a hostile bid from U.S. rival Alcoa Inc., Canada's the Globe and Mail newspaper reported on its Web site.

The Times newspaper also reported that Rio was poised to launch a $34 billion (17 billion pound) takeover of Alcan, saying that Wall Street bankers believe the rival offer "is ready to go hot" with a formal approach within two weeks.

An Alcan spokeswoman could not immediately be reached for comment. A Rio spokesman in London had no comment.

Youtube Linkedin Xing