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This date in deal history: Alcan makes surprise bid for Pechiney

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Published July 6, 2006 at 5:15 PM

July 7, 2003: Canadian aluminum producer Alcan Inc. surprised its French rival Pechiney SA with a €4.8 billion ($5.5 billion) bid that created the world's largest aluminum maker. Below is the timeline of events related to the deal:

PECHINEY SA/ALCAN INC.
Trading in France
Alcan, having failed to reach the required amount of shares of French takeover target Pechiney to delist it, will itself be traded in France. Euronext, the pan-European stock exchange, on Wednesday, Dec. 3, announced that Alcan shares will be admitted to trading.
Company Pechiney SA Alcan Inc.
CEO Jean-Pierre Rodier Travis Engen
Headquarters Paris Montreal
Date Action
12.03.03

Alcan shares will be traded in France

10.14.03 Canada approves Alcan-Pechiney deal
9.29.03

Alcan wins EU clearance
9.15.03

Alcan believes chances are high it will receive regulatory approval
9.12.03

Pechiney accepts Alcan offer

9.01.03

The Canadian aluminum group decides to revert to the terms of a July offer for its French rival
8.19.03

Alcan said it would not raise its unsolicited cash-and-stock bid for French rival Pechiney "without supplementary information"
7.17.03

Alcan says it would list on Euronext Paris

7.14.03

Pechiney adds Goldman Sachs and J.P. Morgan to its adviser team
7.11.03

Pechiney claims that investors owning half its stock believe Alcan's $5.5 billion bid is too low
7.10.03

Alcan reveals that a friendly merger with Pechiney might have been possible

7.09.03

Hoping to overcome a fear of foreign takeovers, Alcan makes a public show of "Frenchness" as it courts Pechiney
7.07.03

Alcan launches a surprise $5.4 billion bid for Pechiney

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