Tuesday, May 3, 2011

Alcoa Rallies On Renewed Takeover Chatter

Shares of Alcoa Inc. (NYSE: AA) rallied more than 2% on Tuesday on speculation that the company could be a takeovert target of mining giant Rio Tinto. "There is a rumor going around that Rio Tinto has secured a $25 billion syndication loan to acquire Alcoa for $25.5 per listed share,"  Reuters reported, citing a European trader. Stay tuned for more. 

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