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Article: Alcoa $33B takeover bid aims for return to top

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Tribune-Review/Pittsburgh Tribune-Review
Article date:
May 8, 2007
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Alcoa Inc., considered a takeover target in recent months, turned hunter Monday by disclosing plans to acquire Canadian rival Alcan Inc. in a $33 billion hostile takeover bid.

"It brings together two companies with a shared history and will create a company with a strong future and enhanced growth opportunities," Alcoa Chief Executive Alain Belda said at a news conference in Montreal, where Alcan has its headquarters.

If Alcoa's bid is successful, it would create the world's largest aluminum producer. Alcoa said it expects it would take about three years to fully integrate the companies' operations.

The world's leading producer of primary and fabricated aluminum and alumina facilities, ...

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