Packaging giants Alcan and Pechiney have finally agreed on the
terms of a liquidity agreement that will be made available to
eligible beneficiaries of Pechiney subscription and purchase
options. This ends months of discussions, plans...
Alcan's hostile takeover of its French counterpart Pechiney has
become a friendly bid following the acceptance of a revised offer
for the company by Pechiney's board. But getting regulatory
approval may prove harder.
Alcan has confirmed that its discussions with Pechiney on the terms
of a proposal for an increase in its offer for all of Pechiney's
securities have ended. But Alcan says it is still confident that a
deal will be eventually agreed.
After announcing the acquisition of Corus's aluminium packaging
activities, Pechiney has reported a third-quarter net loss and said
its full-year profit would be worse than expected due to weak
French packaging and aluminium group Pechiney says it is still
interested in the acquisition of the aluminium activities of
Anglo-Dutch counterpart Corus, and that it will be particularly
careful with regard to competition law when...