BHP Not Interested In Acquiring Alcoa, Report Says
A newspaper in Australia is reporting that BHP Billiton is not interested in acquiring U.S. aluminum company Alcoa .
The Australian, which cites sources it didn't name, reports in its Friday edition that Melbourne-based BHP "never even got close to making a pitch for Pittsburgh's king of the light metal."
Following Alcoa's defeat to Rio Tinto in a bidding warfor Canada's Alcan Aluminum , there were widespread expectations among analysts and investors that BHP would make a bid of at least $40 billion for Alcoa.
"We're very happy with Alcan," Rio Tinto CEO Tom Albanese told CNBC. "We're working to get this closed and run our businesses." Albanese added that a Rio Tinto bid for Alcoa is "off the table."