White knight Rio makes its move

AFTER weeks of speculation Rio Tinto has finally launched its white knight bid for Canadian aluminium producer Alcan, offering $US38.1 billion ($A44 billion) for the company and knocking out Alcoa’s $28 billion play.

White knight Rio makes its move White knight Rio makes its move White knight Rio makes its move White knight Rio makes its move White knight Rio makes its move

Rio announced this afternoon that it would offer $101 per share for Alcan shares to acquire all of the company's stocks, representing a 65% premium to Alcan's all-time highest trading price of $61.

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