US Regulators Want More Info On Alcoa's Alcan Bid

Alcoa said it received a second request for additional information from the antitrust division of the Department of Justice regarding its $28 billion hostile offer for Alcan. Alcoa said it will continue cooperating with the DOJ's review and will comply with the request as soon as possible. Alcoa said it remains confident the deal will be approved in each relevant jurisdiction, and that it hopes to close an acquisition by the end of 2007. In May,Alcoa offered $58.60 in cash and 0.4108 shares for each Alcan share. When announced, the offer represented a 20% premium to Alcan's previous closing price.