Did Alcoa Lose It Suitor

Posted: July 19, 2007 at 2:33 pm

The Australian is just out with a piece saying BHP Billiton (BHP) will not pursue a buy-out of Alcoa (AA).

Alcoa’s shares are down 4%. BHP is up almost 3%.

BHP shareholders seemed to hate the deal. Shares went from $68 before word that it was looking at Alcoa to as low as $65.

Alcoa’s shares are up 50% over the last year, so it is has become expensive by most measures.

Now, if they keep dropping, that won’t be a problem.

Douglas A. McIntyre

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