BHP Billiton Ltd. & Rio Tinto PLC To Bid On Aluminum Producer

BHP Billiton Ltd. and Rio Tinto PLC, are looking to purchase U.S. aluminum producer, Alcoa Inc. as the companies are independently considering making bids of approx. $40 billion. The rumor caused Alcoa Inc.'s shares rise 6%. As it looks, BHP has started the process to make a bid, Rio Tinto has yet to start from the last reports that have come in.