(Bloomberg) -- Canada's dollar strengthened to an 11- month high following Alcoa Inc.'s $26.9 billion bid for Montreal-based Alcan Inc.
Alcoa Inc., the biggest aluminum company by sales, disclosed its unsolicited cash and stock takeover offer for Alcan Inc., the latest in a series of announced deals in Canada. The currency was also bolstered by news that Canadian building permits rose in March at the quickest pace ever, suggesting residential real estate woes in the U.S. haven't spread north.
Read more at Bloomberg Currencies News
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