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According to a report in The Times London, it looks like Alcoa (NYSE: AA) is in play. The takeover valuation would be a whopping $40 billion and the prospective buyers include BHP Billiton and Rio Tinto (it would not be a joint bid). Both certainly have lots of cash to do a deal.
Actually, such rumors have been fairly common with Alcoa. Then again, the company is in a sector that has been rife with consolidation. For example, a recent deal was Hindalco's $3.5 billion deal for Novelis.
Currently, Wall Street thinks the report has credibility as Alcoa's stock is up 8.45% to $35.68.
Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.
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