may throw in bids.
Photo: Erin Jonasson
Alcan on Monday night.
Billiton, Rio Tinto, CVRD, Anglo American and Xstrata.
hostile offer at a 20 per cent premium to Alcan's share price.
The talks broke down last November, meaning a rival bidder for Alcan could swoop in as a white knight.
defensive by analysts, given both companies have been cited frequently as takeover targets during the past year.
In a conference call, analysts questioned the timing of the deal given that in January, Alcoa had announced plans to buy back up to 10 per cent of its shares within three years.
Alcan.
diversified miners.
because the Canadian miner preferred to remain independent.
find Alcan more attractive than Alcoa. Although Alcoa has more attractive bauxite and alumina refining assets, Alcan has cheaper smelters and a smaller downstream business.
"I don't suspect you will get multiple bidders, but I think you will see a counterbidder for Alcan," UBS's Glyn Lawcock said.
companies since a Herald report last May. Earlier this year Additionally, Anglo American's new chief executive Cynthia Carroll strategy in her new role.
competition concerns.
But Alcoa said it would divest assets if the year, with eventual cost savings of $US1 billion a year.
He's a bona fide Hollywood star, and Steven Spielberg and Brad Pitt are among his fans, but what Eric Bana treasures most is his life as a suburban dad.
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