Alcoa: agreement to acquire Alumina

(CercleFinance.com) - Alcoa announces that it has reached an agreement on the terms and process for the acquisition of the Australian group Alumina Limited, a transaction that would consolidate Alcoa's position as one of the world's largest producers of bauxite and alumina.


Under the agreed terms, Alumina shareholders would receive 0.02854 Alcoa shares for each Alumina share, a ratio that implies an equity value of approximately $2.2bn for Alumina, based on the latest closing prices.

Alumina's Board of Directors intends to recommend the agreed ratio in the absence of a superior proposal and subject to an independent expert concluding that the transaction is in the best interests of Alumina's shareholders.


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