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Alcoa Bid Fires Up Alcan

Stock quotes in this article: AA , AL , BHP , RTP  

Updated from 11:41 a.m. EDT

Alcan (AL Quote) soared 33% Monday after aluminum rival Alcoa (AA Quote) unveiled a $27 billion unsolicited merger proposal.

Alcoa's deal would give shareholders of Montreal-based Alcan $58.60 in cash and 0.4108 Alcoa shares for each Alcan share held. Alcoa said the deal is worth $73.25 a share at Friday's prices -- a 20% premium to Alcan's trading price. ...

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