The sale of Alcan spinoff Novelis Inc. to India's Hindalco Industries earlier this year and Monday's US$33-billion bid for Alcan Inc. courtesy of Alcoa Inc. , demonstrate the dwindling number of aluminum company's up for grabs.
Century Aluminum Co. shares were up nearly 7% in pre-market trading at around 8:25 a.m. ET, while Aluminum Corp of China was up nearly 5%.
The stocks got a boost from news the world's largest aluminum company, Alcoa, is bidding US$73.25 per share to takeout #2 Alcan.
Alcoa shares were down 2.64% and Alcan was up more than 25%.
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