Alcoa to acquire Alcan

News

Alcoa has announced that it is to offer to acquire all of the outstanding common shares of Alcan for $58.60 in cash and 0.4108 of a share of Alcoa common stock for each outstanding common share of Alcan. Alcoa expects to begin its offer on 8 May 2007.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />.

Alcoa has announced that it is to offer to acquire all of the outstanding common shares of Alcan for $58.60 in cash and 0.4108 of a share of Alcoa common stock for each outstanding common share of Alcan. Alcoa expects to begin its offer on 8 May 2007.

 

Based on Alcoa’s closing stock price on 4 May, the offer has a value of $73.25 per Alcan share or approximately $33bn in enterprise value.

 

According to Alcoa, the acquisition would bring together a complementary portfolio of businesses, and benefit from a broader talent base, enhanced research and development expertise, and shared values. The companies also intend to work together on expansion and modernisation projects.

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