Rio Tinto -- an Anglo-Australian company struck a takeover deal with Montreal-based Alcan. The July 12th agreement would allow the exploitation of AIcan's track record as a low-cost producer and expand its reach into emerging markets such as China and India. Paul Skinner, the chairman of the board of Rio Tinto, said the new company would continue to invest in Canada. (The all-cash agreement valued Alcan at just over 38 billion dollars, which topped a rival bid by Alcoa.)

Date: 2007-07-12
Placeline: MONTREAL, Quebec.
Source: The Canadian Press
Length: 24 seconds

Transcript Prediction: << we believe in Canada we have done business here to 50 years we think it is an outstanding country in which to invest to do business and to grow and we will invest billions of dollars over the next several years >>

Earbank_2007-07-12_BIZ-Alcan-Rio-Tinto_4794