Rio Tinto to Acquire Alcan, Alcoa Withdrawals Offer

MONTREAL, MELBOURNE, LONDON and NEW YORK—Rio Tinto and Alcan announced they have reached an agreement for Rio Tinto to make an offer to acquire all of Alcan’s outstanding common shares for $101 per share in a recommended, all-cash transaction. The offer represents a total equity consideration for Alcan of approximately $38.1 billion. The combined aluminium product group will be named Rio Tinto Alcan.