Washington—US aluminum major Alcoa's offer for rival Canadian producer Alcan is "full," said Alain Belda, Alcoa's chairman and CEO, speaking at the JP Morgan Basic and Industrials Conference in New York last week.rnOn May 7, Alcoa announced an offer to acquire all of the outstanding common shares of Alcan for $58.60 in cash and 0.4108 of a share of Alcoa common stock for each outstanding common share of Alcan. When announced, Alcoa's offer represented a 20% premium to Alcan's previous closing price. The offer and withdrawal rights are scheduled to expire at 5 pm EDT (2100 GMT) on July 10.
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