 Alcoa is the world's second largest aluminium company |
Mining giants BHP Billiton and Rio Tinto are preparing rival plans for a $40bn (�20.5bn) takeover of US aluminium firm Alcoa, a report claims. Buoyed by record metal prices over the past year, both firms are still in the early stages and have yet to approach the Alcoa board, said the Times.
The speculation comes amid growing consolidation in the metals sector.
BHP Billiton and Rio Tinto, both Anglo-Australian groups, have declined to comment on the report, as has Alcoa.
On Monday, India's largest aluminium producer, Hindalco Industries, agreed to buy its US-Canadian rival Novelis for $5.9bn (�3bn) in an all-cash deal.
An October merger between Russian firms Rusal and Sual and Swiss company Glencore left Alcoa as the world's second largest aluminium producer.
One-Minute World News 
News services
E-mail this to a friend 
Printable version 
