July 13: As executives work on the completion of mining group Rio Tinto’s $38bn acquisition of aluminium producer Alcan, there is speculation as to who will take control of Alcan Packaging now that it is on the market.
Dick Evans, who will become chief executive of Rio Tinto Alcan when regulatory issues are completed, confirmed recently that the unit had been valued.
Alcan had been close to a decision on the sale of its packaging business when Alcoa launched its recent unsolicited but subsequently failed bid for Alcan.
While there have been no obvious clues as to possible suitors, the specialist nature of the business and its high value limits the field of contenders.
