Deals and IPOs

Rio Tinto Gets U.S. Antitrust Approval for Alcan Takeover


Rio Tinto, the world's third largest miner by revenues, said Monday it has won U.S. antitrust approval for its $38.1 billion (28 billion euro) takeover of Alcan .

The global mining company said this and other regulatory approvals are a condition of its offer for the Canadian aluminum producer.

Analysts had not expected any serious competition concerns with the deal.

The takeover will make Rio Tinto the world's biggest producer of aluminum and bauxite. Its main rivals will be the U.S.'s Alcoa and Russia's Rusal.

Rio Tinto's Australian shares were up 2.9% percent at A$91.70 in afternoon trade. The company's shares are also listed in London.