Reynolds Metals Co

Reynolds Metals Co. on Thursday accepted a sweetened $4.4-billion, all-stock bid from Alcoa Inc., the world's top aluminum producer, swiftly ending a hostile takeover in the long-depressed industry. The transaction came just four days after Reynolds, the third-largest aluminum producer, rejected a $4.1-billion cash-and-stock bid from Alcoa and said it would explore a sale. With the purchase of Reynolds, Alcoa would retain its spot as the No.

Nestle Ends Effort to Acquire Eskimo Pie Corp.: Nestle U.S.A. terminated talks to acquire the Eskimo Pie Corp. unit of Reynolds Metals Co. after the companies could not agree on terms. As a result, Reynolds said it plans a public offering of its 84% stake in Eskimo Pie, a maker of ice cream products. Both Reynolds and Eskimo Pie are based in Richmond, Va. The remaining 16% of Eskimo Pie is owned by a Reynolds charitable trust and public investors. Nestle U.S.A.

Alcoa Inc. said Monday that it planned to launch a hostile $4.2-billion bid for rival Reynolds Metals Co., which rejected a friendly cash-and-stock offer. Pittsburgh-based Alcoa, the world's largest producer of aluminum, said it will launch a cash tender offer this week for Reynolds' 64.4 million outstanding shares, seek to remove the company's anti-takeover defense and try to oust its 11-member board. The move came a day after Richmond, Va.-based Reynolds, the No.

Nestle U.S.A. Inc. in Glendale terminated talks to acquire the Eskimo Pie Corp. unit of Reynolds Metals Co. after the companies could not agree on terms. As a result, Reynolds said it plans a public offering of its 84% stake in Eskimo Pie, a maker of ice cream products. Both Reynolds and Eskimo Pie are based in Richmond, Va. The remaining 16% of Eskimo Pie is owned by a Reynolds charitable trust and public investors. Nestle U.S.A. controls the American operations of Nestle S.A.

Pittsburgh-based Aluminum Co. of America scrapped plans to acquire an Alabama aluminum rolling mill from Reynolds Metals Co. after the Justice Department sued to block the $250-million sale on antitrust concerns. In a letter to Richmond, Va.-based Reynolds Metals, Alcoa Chairman and Chief Executive Paul O'Neill said the letter of intent the two companies signed in April is "no longer operative."

Reynolds Metals Co. announced Monday that it has signed a $1.1-billion loan agreement designed to refinance two major term loans as part of an ongoing cost-reduction program. The company also said it is calling for redemption on Jan. 4 of all of its outstanding first mortgage bonds. The bonds will be redeemed with general corporate funds.

Alcoa Inc. said Monday that it planned to launch a hostile $4.2-billion bid for rival Reynolds Metals Co., which rejected a friendly cash-and-stock offer. Pittsburgh-based Alcoa, the world's largest producer of aluminum, said it will launch a cash tender offer this week for Reynolds' 64.4 million outstanding shares, seek to remove the company's anti-takeover defense and try to oust its 11-member board. The move came a day after Richmond, Va.-based Reynolds, the No.

Nestle USA Inc. in Glendale is negotiating to buy Eskimo Pie Corp. from Reynolds Metals Co., which owns 84% of the ice cream company. Potential terms were not disclosed. Reynolds, the nation's second-largest aluminum concern and the maker of such consumer products as Reynolds Wrap foil, said it wants to sell Eskimo Pie to focus only on aluminum and related businesses. Both Reynolds, which had sales of $6.1 billion last year, and Eskimo Pie are based in Richmond, Va.

Reynolds Metals Co. got an all-cash takeover offer from a small investment firm, Michigan Avenue Partners, that rivals a half-cash, half-stock offer from Alcoa Inc., the investment firm said. The value of the offer for North America's No. 3 aluminum producer wasn't disclosed, though Chicago-based Michigan Avenue Partners said its offer beats the Alcoa bid. Alcoa valued its offer at $5.6 billion, without providing additional details. At $65 a share, the deal would be worth only $4.

Reynolds Metals Co. on Sunday rejected a multibillion-dollar takeover bid by Alcoa Inc. as inadequate, a decision that is likely to set off a bidding scramble for the No. 3 aluminum manufacturer.

Reynolds Metals Co. got an all-cash takeover offer from a small investment firm, Michigan Avenue Partners, that rivals a half-cash, half-stock offer from Alcoa Inc., the investment firm said. The value of the offer for North America's No. 3 aluminum producer wasn't disclosed, though Chicago-based Michigan Avenue Partners said its offer beats the Alcoa bid. Alcoa valued its offer at $5.6 billion, without providing additional details. At $65 a share, the deal would be worth only $4.

The struggling world aluminum industry was thrown into tumult Wednesday when its biggest producer, Alcoa Inc., launched an unsolicited bid to buy U.S. rival Reynolds Metals Co. only hours after aluminum producers in Canada, France and Switzerland unveiled their own merger plans.

Pittsburgh-based Aluminum Co. of America scrapped plans to acquire an Alabama aluminum rolling mill from Reynolds Metals Co. after the Justice Department sued to block the $250-million sale on antitrust concerns. In a letter to Richmond, Va.-based Reynolds Metals, Alcoa Chairman and Chief Executive Paul O'Neill said the letter of intent the two companies signed in April is "no longer operative."

The Justice Department on Monday sued to block Aluminum Co. of America's proposed purchase of an Alabama aluminum rolling mill from rival Reynolds Metals Co. In a lawsuit filed in a federal court in Alabama, the Justice Department said the $250-million purchase would mean higher prices for can makers who buy rolled aluminum and, ultimately, consumers purchasing canned beverages.

The Justice Department on Monday sued to block Aluminum Co. of America's proposed purchase of an Alabama aluminum rolling mill from rival Reynolds Metals Co. In a lawsuit filed in a federal court in Alabama, the Justice Department said the $250-million purchase would mean higher prices for can makers who buy rolled aluminum and, ultimately, consumers purchasing canned beverages.

Reynolds Metals Co. on Sunday rejected a multibillion-dollar takeover bid by Alcoa Inc. as inadequate, a decision that is likely to set off a bidding scramble for the No. 3 aluminum manufacturer.

Nestle Ends Effort to Acquire Eskimo Pie Corp.: Nestle U.S.A. terminated talks to acquire the Eskimo Pie Corp. unit of Reynolds Metals Co. after the companies could not agree on terms. As a result, Reynolds said it plans a public offering of its 84% stake in Eskimo Pie, a maker of ice cream products. Both Reynolds and Eskimo Pie are based in Richmond, Va. The remaining 16% of Eskimo Pie is owned by a Reynolds charitable trust and public investors. Nestle U.S.A.

Nestle U.S.A. Inc. in Glendale terminated talks to acquire the Eskimo Pie Corp. unit of Reynolds Metals Co. after the companies could not agree on terms. As a result, Reynolds said it plans a public offering of its 84% stake in Eskimo Pie, a maker of ice cream products. Both Reynolds and Eskimo Pie are based in Richmond, Va. The remaining 16% of Eskimo Pie is owned by a Reynolds charitable trust and public investors. Nestle U.S.A. controls the American operations of Nestle S.A.