Plans For A Sale Foiled, Rio Tinto Pulls Back Pacific Aluminium. Is Alcan Spin Off Ahead?

In July 2007, when Rio Tinto(RIO) announced it would be purchasing Alcan for $38.1 billion in the largest mining acquisition ever, new CEO Tom Albanese was ecstatic.  His bold move, beating out a  $27 billion hostile bid from former Alcan parent Alcoa(AA) proved disastrous.  Earlier this year, Albanese was forced to resign after writing down over $25 billion… Read More »