How much did Rio Tinto pay for Alcan?
On 12 July 2007, Alcan announced a friendly takeover deal with Anglo-Australian mining giant Rio Tinto, worth US$38.1 billion.
When did Rio Tinto acquire Alcan?
2007
In 2007, Rio Tinto acquired Alcan, in a US$38 billion deal. The offer served to undermine a hostile bid of $27.5bn from Alcoa, Alcan’s US rival. Rio Tinto became the world’s leading aluminum producer.
Who bought Alcan?
Rio Tinto
In 2007, Alcan was purchased by the British-Australian multinational corporation Rio Tinto for $38 billion.
What happened Alcan?
In 2007, Alcan was bought by the British-Australian mining company Rio Tinto. The subsidiary became known as Rio Tinto Alcan, but in 2015, Rio Tinto decided to drop Alcan from the name.
What is Alcan called now?
In 1925 the name was changed to Aluminium Company of Canada, Ltd., resulting in the Alcan trademark. In 1928 it was renamed Aluminium, reincorporated, and separated from its parent company, Alcoa, which transferred to it almost all of Alcoa’s assets then held outside the United States.
Is Alcan still in business?
In 2007, Alcan was purchased by the British-Australian multinational corporation Rio Tinto for $38 billion. Today, Rio Tinto continues to operate several smelters in the Saguenay–Lac-Saint-Jean region of Québec, as well as in Kitimat, British Columbia.
Is Alcan a Canadian company?
Alcan Aluminium Limited, Canadian multinational company incorporated in 1928 (as Aluminium Limited) and now the largest Canadian industrial enterprise, operating in more than 100 countries.
Will Rio Tinto buy Alcan for $38 billion?
SAN FRANCISCO (MarketWatch) — Rio Tinto said Thursday it reached an agreement to buy Canadian aluminum producer Alcan Inc. for $38.1 billion in cash, topping a hostile offer from Alcoa Inc. by roughly a third. Alcoa, in a brief statement shortly after the closing bell, dropped its bid for Alcan rather than open a bidding war with Rio Tinto.
What is the Rio Tinto Aluminium Fund Canada?
Together with our partners, the Rio Tinto Aluminium Fund Canada aims to deliver long term social and economic benefits for the communities in which we operate and broader society. The Fund encourages programmes and initiatives that align with our priority areas, which include education, environment, health and community liveability.
What happened to Rio Tinto Alcan Beauharnois?
On 20 January 2009 Rio Tinto Alcan announced plans to close the Beauharnois smelter and reduce output from the Vaudreuil refinery; both facilities are in Quebec. It is part of a larger plan to reduce aluminum output by a further 6% (following a cut of 5% in late 2008), while cutting 1,100 jobs worldwide.
Why did Alcan and Algroup fail?
In 1999, Alcan made a failed attempt to make a three-way merger between it and Algroup (Alusuisse Lonza Group) of Switzerland and Pechiney of France. The proposed merger was blocked by the European Commission due to fears of anti-competition.