According to sources, BHP Billiton has abandoned the acquisition of Alcoa. Both BHP Billiton and Alcoa did not comment on the news. On the 19th, Alcoa's share price fell, and BHP Billiton's share price rose.
On July 20th, sources said that Australian mining giant BHP Billiton had abandoned the acquisition of American aluminum producer Alcoa Inc.
Alcoa shares fell 7% on the afternoon of the 19th, closing at a nearly 4% decline.
A report published by the Australian media on the 20th quoted anonymous sources as saying that BHP Billiton would not bid for Alcoa for $45 billion. BHP Billiton declined to comment.
Earlier reports said that BHP Billiton is interested in acquiring Alcoa and expanding its energy and mining operations.
As of the close of the 18th, Alcoa's share price has risen by 55% since 2007, because investors believe that the rapid merger of metals such as gold, copper and nickel will expand to Other metals, including aluminum.
On the 13th, due to the acquisition of Rio Tinto by Alcan Inc., Alcoa plans to acquire Alcan at a bid of US$27 billion. After the merger of Alcoa and Alcan failed, the Wall Street market speculated that Alcoa may become the next acquisition target.
Alcoa spokesperson did not comment on the media reports on the 19th.
The report also speculates that BHP Billiton may also be interested in US copper mines freeport-mcmoran copper & gold. Freeport shares rose 4.9% to $97.66 on the 19th.
BHP Billiton shares rose 2.7% to US$67.54 in the US, and Rio Tinto shares rose 1.9% to US$310.45.
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On July 20th, sources said that Australian mining giant BHP Billiton had abandoned the acquisition of American aluminum producer Alcoa Inc.
Alcoa shares fell 7% on the afternoon of the 19th, closing at a nearly 4% decline.
A report published by the Australian media on the 20th quoted anonymous sources as saying that BHP Billiton would not bid for Alcoa for $45 billion. BHP Billiton declined to comment.
Earlier reports said that BHP Billiton is interested in acquiring Alcoa and expanding its energy and mining operations.
As of the close of the 18th, Alcoa's share price has risen by 55% since 2007, because investors believe that the rapid merger of metals such as gold, copper and nickel will expand to Other metals, including aluminum.
On the 13th, due to the acquisition of Rio Tinto by Alcan Inc., Alcoa plans to acquire Alcan at a bid of US$27 billion. After the merger of Alcoa and Alcan failed, the Wall Street market speculated that Alcoa may become the next acquisition target.
Alcoa spokesperson did not comment on the media reports on the 19th.
The report also speculates that BHP Billiton may also be interested in US copper mines freeport-mcmoran copper & gold. Freeport shares rose 4.9% to $97.66 on the 19th.
BHP Billiton shares rose 2.7% to US$67.54 in the US, and Rio Tinto shares rose 1.9% to US$310.45.
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