Alcan launches hostile bid for Pechiney - 3.9billion

[dArKeR]

Montreal-based Alcan Inc. has launched a hostile takeover bid for aluminum rival French-based Pechiney valued at $3.9-billion (U.S.).

"This is a win-win offer that maximizes value for shareholders and stakeholders of both companies, recognizes the strengths of both companies and provides the best option for future growth," Travis Engen, Alcan's President and CEO, said in a statement.
 "I am convinced that Alcan's offer represents an exceptional opportunity for both Pechiney and Alcan and that now is the right time to seize it."

http://theglobeandmail.com/servlet/story/RTGAM.20030707.wbalcan0707/BNStory/Business/

The most basic lesson one learns in economics class; fewer competing companies means higher prices, less service, higher waste...

Win win!