Thursday, June 01, 2006
Alcan: BHP Billiton, Rio Tinto could bid - report
Alcan: BHP Billiton, Rio Tinto could bid - report
Story Alcan, the listed Canadian aluminum producer, could receive takeover bids from BHP Billiton in Australia and Rio Tinto in the UK, reported the Globe and Mail.
The report quoted an unidentified investment banker as saying that both the possible suitors have been advised by investment bankers to bid for Alcan. The source, however, said that it is unlikely that Alcan is currently discussing any takeover deals with either of the two.
If either BHP or Rio Tinto buys Alcan, it would auction Alcan's packaging business, the banker said. A deal for Alcan could cost CAD 20bn (USD 18.2bn), noted the report.
Any offer from either party would likely be friendly, as a hostile bid could thwart a particular contract Alcan has with Hydro-Quebec, the report said.
Alcan has a USD 19.5bn market cap and some 65,000 workers internationally.
Source Globe and Mail
Value USD 18,200m (possible deal price)
Story Alcan, the listed Canadian aluminum producer, could receive takeover bids from BHP Billiton in Australia and Rio Tinto in the UK, reported the Globe and Mail.
The report quoted an unidentified investment banker as saying that both the possible suitors have been advised by investment bankers to bid for Alcan. The source, however, said that it is unlikely that Alcan is currently discussing any takeover deals with either of the two.
If either BHP or Rio Tinto buys Alcan, it would auction Alcan's packaging business, the banker said. A deal for Alcan could cost CAD 20bn (USD 18.2bn), noted the report.
Any offer from either party would likely be friendly, as a hostile bid could thwart a particular contract Alcan has with Hydro-Quebec, the report said.
Alcan has a USD 19.5bn market cap and some 65,000 workers internationally.
Source Globe and Mail
Value USD 18,200m (possible deal price)
