According to MarketWatch, BHP Billiton (BHP) is looking at a possible deal to buy Alcoa. Both companies missed out on getting married when Rio Tinto (RTP) locked up a bid for Alcan (AL).
With Alcan’s shares up 100%+ over the last year and Alcoa up only 60%, even a premium offer would appear to be a good deal. BHP has a market cap of $144 billion to Alcoa’s $48 billion, so by relative size the buy-out would make sense.
At the end of all the dancing, there may just be one huge aluminum company left.
Douglas A. McIntyre
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