I guess we will just have to wait and see what the 3 companies announce. I really liked the action today...new 52 week high! In the mean time, there is speculation that the U.S. would want to have a say in this:
Tuesday August 10, 6:14 pm Eastern Time
U.S. authorities would review Alcan
merger-experts
WASHINGTON, Aug 10 (Reuters) - United States antitrust authorities will review
any proposed merger between Alcan Aluminum Ltd. (NYSE:AL - news)
(Toronto:AL.TO - news) of Canada, France's Pechiney and Switzerland's
Alusuisse-Lonza Holding AG , experts said Tuesday.
Alcan confirmed Tuesday that it is holding ''advanced discussions'' about a merger with the other two firms,
although it said there ''can be no certainty at this stage that these discussions will result in any agreement or
transaction.''
Alcan has extensive production facilities in the United States.
Keith Shugarman, a lawyer with Goodwin, Procter & Hoar in Washington, said the Justice Department, which
has reviewed aluminum mergers in the past, would probably look most closely at finished products.
He said that aluminum ingot and other upstream products are less likely to undergo review.
Malcolm Pfunder, of Gibson, Dunn & Crutcher in Washington, said he too expected that the government would
review the possible merger, should it occur.
Alcan operates in 21 countries, with a number of major plants in the United States, according to a list on its
website at www.alcan.com.
The firm has an aluminum ingot plant, a foil product plant, a beverage can metal plant, chemical offices and its
U.S. headquarters in Cleveland, Ohio; an automotive products plant in Farmington Hills, Mich.; a cable products
plant in Atlanta, Ga. and a foil products plant in La Grange, Ga.
Alcan is traded on the New York Stock Exchange |
