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SYDNEY, Australia (AP) - Anglo-Australian mining company Rio Tinto PLC may be considering a $27 billion-plus bid for Canada's Alcan Inc., an Australian newspaper reported, but analysts on Monday played down the benefits of a linkup between the two global companies.
Rio Tinto has hired Deutsche Bank to advise it on a possible bid for Alcan, The Sydney Morning Herald reported, without citing sources.
Alcan's board urged shareholders to reject a hostile $27 billion cash-and-shares offer from U.S. competitor Alcoa Inc. as to low and said that completion of the merger was uncertain due to regulatory and other hurdles.
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