Alcoa Extends Gains on Takeover Speculation; Alcan Falls: U.S. After-Hours

(Bloomberg) -- Alcoa Inc. climbed in extended U.S.
trading as speculation increased that the world's second-largest
aluminum company will become a takeover target.

Shares of the New York-based company gained 93 cents, or
2.1 percent, to $46.22 as of 6:52 p.m. in New York. Alcoa
withdrew its hostile $27.7 billion takeover bid for Alcan Inc.
after mining company Rio Tinto Group topped the offer today by
agreeing to pay $38.1 billion.


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