FYI | Jun 02 2006
By Rudi Filapek-Vandyck
Our sources tell us there are some rumours going around in the market about BHP Billiton (BHP) and Rio Tinto (RIO) studying a possible bid for North American miner Alcoa.
According to reports in the Canadian press, investment bankers have already approached management at both diversified resources giants to consider launching a public offer for Alcan, but the rumour is this is just a smart ploy to draw the attention from the real target, which is Alcoa.
Alcoa has previously been touted as a possible "sitting duck". The usual suspects named are BHP and RIO, and Zug-based Xstrata. Brazil’s Companhia Vale do Rio Doce could be a potential suitor as well.