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Possible Suitors Decline Comment On Alcan

Wednesday, May 09, 2007
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Anglo American said it would not comment on whether the company was considering any acquisitions of its own, including a possible counterbid for Alcan following an offer made by Alcoa yesterday.

Anglo American wouldn’t comment on the possibility it might bid for Canada-based Alcan, following Alcoa’s $26.9 billion hostile bid for the company yesterday which, if successful, would create the world’s largest aluminum
firm by output.

Market speculation of a counterbid was particularly heightened as Anglo American’s Chief Executive Cynthia Carroll was formerly with Alcan.

Meanwhile, BHP Billiton remained on the fence over talk it may join in the wave of mergers and acquisitions sweeping the global aluminum market, refusing to comment on the possibility it might bid for Alcan.

Nor would BHP Billiton comment on whether it might consider looking at Alcoa itself.

BHP Billiton has also been mooted by analysts as a possible buyer for Rio Tinto.

Finally, Brazilian mining giant Companhia Vale do Rio Doce, or CVRD, said it won’t comment on the possibility it could make a rival bid for Alcan.

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