Alcan news stories on Newser

Bahrain Arm Accuses Alcoa of Corruption

Rob Quinn — Thu, 28 Feb 2008 10:47:00 CST

A company controlled by Bahrain's government has filed a lawsuit in US federal court accusing metals giant Alcoa of a host of shady business practices, the Wall Street Journal reports. Pittsburgh-based Alcoa, one of the world's biggest aluminum companies, systematically overcharged Bahrain Aluminum for raw materials and funneled money to...

Deal Could Forge Mining Goliath

Rob Quinn — Fri, 09 Nov 2007 05:19:42 CST

The biggest mining company in the world is aiming to get even bigger. BHP Billiton's $142 billion bid for Rio Tinto has been turned down, but the firm is still keen to make a deal, reports the Wall Street Journal . The deal would be the second-largest in history, and the...

Retail Reports Catapult Markets

Greg Atwan — Thu, 12 Jul 2007 15:43:12 CDT

The Dow soared 283.86 points to 13861.73 today, its largest single-day rally since 2002 and another record close. Traders ignored ongoing bearish rumors from the subprime sector, focusing on better-than-expected June reports from a host of retailers including Wal-Mart, J.C. Penney and American Express.

Alcan Steels Itself Against Alcoa Bid

J. Kelman — Tue, 22 May 2007 18:17:45 CDT

Canadian aluminum maker Alcan has rejected the $24.7-billion bid from rival Alcoa that would have been the biggest takeover in the metals industry, and signalled its intention to look elsewhere. Alcoa’s $74.60-per-share bid was inadequate, Alcan’s CEO said today, reigniting rumors that both companies may be ripe takeover...

Aluminum Giant Makes Play for Rival

J. Kelman — Mon, 07 May 2007 13:44:08 CDT

Aluminum titan Alcoa is hoping to get its largest rival, Alcan, to melt under a hostile takeover bid, after merger talks between the two companies collapsed. Alcoa, the world's largest aluminum company, has offered $26.9 billion for its Canadian competitor in an effort to beat out the emerging market...