(Reuters) - Alcan Inc. has begun negotiating toward a merger agreement with Rio Tinto PLC to fend off a hostile bid from U.S. rival Alcoa Inc., Canada's the Globe and Mail newspaper reported on its Web site.
Britain's Times newspaper also reported that Rio was poised to launch a $34 billion takeover of Alcan, saying that Wall Street bankers believe the rival offer "is ready to go hot" with a formal approach within two weeks.
Read more at Reuters Africa
Britain's Times newspaper also reported that Rio was poised to launch a $34 billion takeover of Alcan, saying that Wall Street bankers believe the rival offer "is ready to go hot" with a formal approach within two weeks.
Read more at Reuters Africa
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