Rio Tinto gets US antitrust approval for takeover of Alcan

Rio Tinto Ltd., the world's third largest miner by revenues, said Monday it has won U.S. antitrust approval for its US$38.1 billion (€28 billion) takeover of Alcan Inc. The global mining company said this and other regulatory approvals are a condition of its offer for the Canadian aluminum producer. Analysts had not expected any serious competition concerns with the deal. The takeover will make Rio Tinto the world's biggest producer of aluminum and bauxite. Its main rivals will be the U.S.'s Alcoa Inc. and Russia's Rusal. Rio Tinto's Australian shares were up 2.9 percent at A$91.70 in afternoon trade. The company's shares are also listed in London.