Alcoa gets new antitrust request on Alcan bid

Saturday, Jul 07, 2007
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Aluminum maker Alcoa Inc. said on Friday federal antitrust investigators have asked it for additional information regarding its hostile offer for Canadian rival Alcan Inc.. Alcoa said the move would extend the waiting period imposed by the Hart-Scott-Rodino antitrust laws until 30 days after it had substantially complied with this second request from the U.S. Department of Justice. Alcoa Chairman and Chief Executive Alain Belda said in a statement the information request was "a normal and expected part of the regulatory process" and that Alcoa had a detailed roadmap to resolve the competition issues. Earlier this week, Alcoa said it could raise its $28.6 billion offer for Alcan, even as the Canadian company rebuffed requests for talks. Also on Friday, sources said Rio Tinto, the world's second-biggest miner, was mulling a range of options, including a rival bid for Alcan.

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