Rio Tinto launches $38.1 billion bid for Alcan
SYDNEY (Reuters) - Mining giant Rio Tinto Ltd./Plc. (RIO.AX) (RIO.L) said on Thursday it has agreed to pay $38.1 billion, or $101 per common share, for Canadian aluminum company Alcan Ltd. AL.TO.
Rio said the transaction, which tops a $28.8 billion offer from Alcoa Inc. (AA.N), had been unanimously recommended by Alcan's board.
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