Shares of Alcoa (AA) - Get Report were higher over 2.5% on heavy trading volume this afternoon after reports by suggested that Rio Tinto (RIO) - Get Report could be working with bankers on a potential takeover of the company. 

Shares of Alcoa closed higher Thursday by 1.75% to $33.49 per share on heavy trading volume. Shares of Rio Tinto closed higher by .5% to $41.08 per share. 

This story is updated from 2:02 p.m. EDT 

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