Alcan Opens Data Room To Rio Tinto, BHP Billiton

Thursday, Jun 21, 2007
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Canada's Alcan has opened a data room to both BHP Billiton and Rio Tinto in an effort to fend off a $27 billion bid from Alcoa, the Sydney Morning Herald reported.

Citing an unidentified source, the newspaper said both companies are among those being considered by Alcan for the role of a white knight.

The report said the process is in its early stages and it could be months before Alcan agrees to a friendly tie-up due to a lengthy global regulatory review of Alcoa's offer.

The report also said it wouldn't be surprising if BHP owns Alcoa and Rio Tinto owns Alcan by this time next year, even though BHP is also considering a bid for Alcan.

 

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