Alcan Gets Better Offer From Rio Tinto

July 12, 2007
Bid is $38.1 billion

Rio Tinto offered $38.1 billion for Alcan on July 12. It's a better offer than its rival Aloca's $28 billion bid. The proposed merger would create the world largest aluminum company.

Rio's offer of $101 per share is a 32% premium over the current share price of $76.03. Alcan's board of directors unanimously recommended that the shareholders accept the cash offer.

The new company, to be called Rio Tinto Alcan, would be based in Montreal and headed by Dick Evans, the current CEO of Alcan.

Rio Tinto employs 36,300 while Alcan employs 68,000.

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!