UPDATE 1-Brazil's CVRD says doesn't rule out bid for Alcan

(Reuters) - CVRD, short for Companhia Vale do Rio Doce, said in a
statement that it "is always analyzing opportunities to
strengthen its strategic position, including acquisitions of
assets in the mining and metals industries."




CVRD issued the statement shortly after Anglo-Australian
miner Rio Tinto Plc/Ltd. agreed to buy Alcan
for $38.1 billion to create the world's biggest aluminum
producer. A source familiar with the deal told Reuters that
CVRD had also bid for Alcan, which has been fighting off
hostile advances by U.S. rival Alcoa Inc. .


Read more at Reuters.com Mergers News