Breaking News

Alcan Considers Rio Tinted Bid

August 6, 2007

Canadian global aluminum provider and packaging leader Alcan has received a bid from Anglo-Australian miner company Rio Tinted in a move will likely lead to the seperation of its mining and other businesses, which also focus on cosmetic packaging. The company said that Rio’s bid trumped a hostile bid by another rival in the aluminum sector, Alcoa. Alcoa offered a sum that, according to Alcan executives, significantly undervalued the company.

The deal was likely to help Rio diversify beyond its strengths with mining minerals such as iron ore and copper, however, the prospect of taking on the business’s packaging operations is unlikely to be of interest. The deal means that Rio Tinto will make an initial offer to acquire Alcan’s outstanding shares at a cash price.

In 2006, Alcan Packaging registered sales of $6 billion—out of a total of $23.6 billion for Alcan as a whole. Of this figure beauty packaging represented 13% of the division’s revenues. The acquisition leads industry experts to believe that the company’s packaging division will eventually be spun off.
  • Skin of Color Society Connects Experts

    Skin of Color Society Connects Experts

    Melissa Meisel, Associate Editor||January 16, 2017
    Dermatologists from across the nation share information and ideas.

  • Erasa

    Erasa's New Evangelist(a)

    January 9, 2017
    Impressed by the performance of its hero SKU, supermodel Linda Evangelista joins the company in a hand's on role.

  • Discourse on Disclosure

    Discourse on Disclosure

    Tom Branna, Editorial Director||January 6, 2017
    Transparency impacts the cleaning industry.

  • Hitting the Right Notes

    Hitting the Right Notes

    January 6, 2017
    Agilex Fragrances is the leader in the middle market fragrance category.

  • The Smell of Clean in 2017

    The Smell of Clean in 2017

    January 6, 2017
    Changing consumer lifestyles and demographics are impacting the scents found in the household cleaning category.

  • On the Edge

    On the Edge

    January 6, 2017
    Expanding beauty brands to watch in 2017