Rio Tinto's Alcan offer meets Quebec agreements

Rio Tinto's (RIO.AX: Quote) proposed $38 billion takeover of aluminum producer Alcan Inc. (AL.TO: Quote) is in line with Alcan's prior commitments to job creation and economic development in its home province of Quebec, the Quebec government said on Tuesday. Alcan entered into the agreements in December 2006. Rio's bid trumped an earlier hostile offer by U.S. rival Alcoa (AA.N: Quote).