Rusal Unlikely To Bid For Alcan, Alcoa

The world’s largest aluminum company, Russia’s United Company Rusal, is unlikely to enter a bidding war for either Alcoa or Alcan, a source close to the situation told Dow Jones Newswires. “Rusal’s emphasis remains on its upstream operations, making a move for either Alcoa or Alcan very unlikely,” the source said, noting the large downstream operations that both the North American aluminum producers have. A spokesman for Rusal confirmed that the company’s focus is on its upstream activities, which contribute some 90% of the group’s revenues. “Rusal have made it very clear they’re watching the situation (with Alcan and Alcoa) with great interest,” Rusal spokesman Jon Simmons told Dow Jones Newswires. “Should individual assets become available through the course of the merger and acquisition activity, Rusal would consider looking at them,” he added.