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Oao Rusal Company

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May 8, 2007 | From Times Wire Services
Alcoa Inc., seeking to keep pace with growing Russian rival Rusal, launched a hostile $27-billion bid for Canadian aluminum rival Alcan Inc. on Monday after failing in almost two years of private talks to reach a negotiated deal. Alcan's U.S. shares jumped 35%, well above the offered price, suggesting that investors think the bidding could go higher. Shares of Pittsburgh-based Alcoa gained 8.3%.
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BUSINESS
May 8, 2007 | From Times Wire Services
Alcoa Inc., seeking to keep pace with growing Russian rival Rusal, launched a hostile $27-billion bid for Canadian aluminum rival Alcan Inc. on Monday after failing in almost two years of private talks to reach a negotiated deal. Alcan's U.S. shares jumped 35%, well above the offered price, suggesting that investors think the bidding could go higher. Shares of Pittsburgh-based Alcoa gained 8.3%.
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