US aluminium maker Alcoa makes $2.2bn offer for Australia's Alumina
US aluminium producer Alcoa on Monday made a non-binding, conditional buyout proposal for its Australian joint venture partner Alumina, valuing the company at $2.2-billion in an all-stock offer.
The deal raises exposure for the major aluminium maker in the upstream business of aluminium and simplifies governance for both parties. Alumina shareholders will also get exposure to the finished product aluminium in a bigger company.