Alcoa to Bid $33 Billion for Alcan |
| New York Times - May 7, 2007 |
Alcoa, the world’s No. 1 aluminum company, said Monday it would make an unsolicited bid it valued at $33 billion for Alcan, a Montreal-based rival. Alcoa said the proposed bid came after lengthy negotiations between the two aluminum giants failed to produce a mutually agreed deal. “This offer follows almost two years of discussions between our companies regarding a variety of potential business combination transactions, including unsuccessful board-level discussions of a merger transaction last fall,” Alcoa’s chief executive Alain J.P. Belda said in a statement. “We are very disappointed that those efforts did not result in a negotiated transaction — a conclusion we would have strongly preferred.”
Read Full Article from New York Times
- Posted: 2007-05-07 10:14:28
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