Alcoa Inc. said Thursday it would honor rival Alcan Inc.'s natural resources
agreements with the Canadian government if Alcan accepts its hostile $33
billion buyout offer. New York-based Alcoa put Montreal-based Alcan in play
last week, but the offer is complicated by agreements Alcan has with the
government of Quebec on hydroelectric and water rights. Alcoa CEO Alain Belda
said in a statement Thursday that he has reviewed the agreement and is
comfortable assuming the commitments and obligations they contain.
—Lou Whiteman
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