BHP's Incoming CEO Expresses Interest In Bidding For Alcoa

The Time of London reported Monday morning that Anglo-Aussie metal miner BHP Billiton's incoming CEO, Marius Kloppers, wants to revive a plan to bid for U.S. aluminum giant Alcoa. It is not believed BHP has yet formally approached Alcoa with the $40 billion offer. The news sent shares of Alcoa 3% higher in European trading; NYSE shares were 2.76% higher in pre-market trading as of 8:05 a.m. EST. Alcoa is itself embroiled in a bid for Canadian rival Alcan, in hopes it could become too big for a takeover. Alcan's board has thus far rejected Alcoa's $33 billion bid.