Rio Tinto swoops for $38bn Alcan takeover

Consolidation of the world’s resource companies continues apace, with mining giant Rio Tinto swooping to acquire Canadian aluminium group Alcan with a $38 billion all-cash offer.

14th July, 2007

Consolidation of the world’s resource companies continues apace, with mining giant Rio Tinto swooping to acquire Canadian aluminium group Alcan with a $38 billion all-cash offer.

The deal, which is being described as the biggest takeover in the history of mining, comes just weeks after Alcan rejected a $28 billion hostile takeover bid from US miner Alcoa, on the grounds that it had undervalued the company.

Alcoa later said it would not return with a...

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