Rio Tinto acquires Alcan to form new global aluminium industry leader
November 14, 2007
38.10 Billion USD
In July 2007, Rio Tinto made an offer to acquire all of Alcan's outstanding common shares for US$101 per common share in a recommended, all cash transaction. The offer represented a total equity consideration for Alcan of approximately US$38.1 billion making the transaction the largest take-over in equity value in Canadian history. In November 2007, Rio Tinto completed the acquisition of 100% of the shares of Alcan. The combined aluminium product group, named Rio Tinto Alcan, is a new global aluminium industry leader in bauxite, alumina, power, aluminium and technology, and is the largest global producer of aluminium and bauxite based on current production.
McCarthy Tétrault advised Rio Tinto with a team that was led by Owen Johnson.