U.S. Stock-Index Futures Rise; Shares of Archer Daniels, Alcoa Advance

(Bloomberg) -- U.S. stock-index futures advanced
after investors speculated the biggest weekly sell-off in more
than four years was excessive.

Archer Daniels Midland Co., the world's largest grain
processor, climbed after reporting earnings that topped
analysts' estimates. Alcoa Inc., the world's second-biggest
aluminum company, rose in Europe after their shares lost more
than 10 percent in the previous five days.


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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

Alcan contracts Areva to build Saguenay power unit

(Reuters) - Alcan unveiled plans for the AP50 project in December of
last year. The Montreal-based aluminum producer is currently
the target of an unsolicited takeover attempt by U.S. rival
Alcoa .




Read more at Reuters.com Mergers News

US STOCKS-Buybacks, solid earnings forecasts lift indexes

(Reuters) - J&J gained 1 percent after the health-care company
announced plans for a $10 billion share buyback.
ConocoPhillips, which nearly quadrupled its repurchase plan to
$15 billon, rose 3.7 percent.




Alcoa gained 1.7 percent and was a top performer among the
Dow industrials. The aluminum producer kicked off the
second-quarter earnings season after the bell, reporting a
profit that matched estimates.


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Alcoa second-quarter profit down; extends Alcan offer

(Reuters) - Alcoa has offered to buy Alcan for $28.6 billion. The offer. which has been rejected by Alcan, was to expire on Tuesday July 10, but Alcoa said it extended it until August 10.




Earnings from continuing operations were $716 million, or 81 cents per share, compared with $749 million, or 85 cents per share in the same quarter of last year, the Pittsburgh-based company said. Revenue rose to $8.1 billion from $7.8 billion.


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Canada Stocks Rise on Profit, Buyout Speculation; Barrick and Alcan Gain

(Bloomberg) -- Canadian stocks rose, pushing the main
stock index to a record, as Barrick Gold Corp. gained on optimism
materials producers will profit from higher prices for gold and
copper. Takeover speculation also propelled the market.

Shares of Alcan Inc., Canada's biggest aluminum producer,
advanced on reports that Alcoa Inc.'s hostile takeover bid, which
expires tomorrow, may be topped by Rio Tinto Group. Alcoa is
scheduled to report second-quarter earnings today.


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Canadian Stocks May Rise on Earnings, Takeovers; Alcan, Barrick May Gain

(Bloomberg) -- Canadian stocks may rise for a third
day, led by shares of such raw-materials producers as Barrick Gold
Corp., on optimism earnings will increase as prices for gold and
copper rise. Takeovers may also propel the market.

Shares of Alcan Inc., Canada's biggest aluminum producer, may
be active on reports that Alcoa Inc.'s hostile takeover bid, which
expires tomorrow, may be topped by Rio Tinto Group. Alcoa is
scheduled to report second-quarter earnings today.


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US STOCKS-Futures rise on profit optimism, Alcoa up

(Reuters) - Shares of Alcoa Inc. , the best performing Dow Jones
industrial average stock so far this year, rose 1.5 percent in
Europe before the aluminum producer's second-quarter financial
results expected after the market's close.




Even though fallout from the housing slowdown and recent
increases in fuel costs have stirred some caution, analysts
expect recent signs pointing to a strong labor market to boost
prospects for higher-than-expected profits.


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Alcan says Alcoa bid lacking, mulls options

(Reuters) - "We've said that from the outset that we were in discussion with third parties," Michaud said. She declined to identify the third parties.




Earlier on Friday, Alcoa said U.S. Department of Justice antitrust investigators had asked it for additional information regarding its May 7 offer for Alcan. Alcoa said it had a detailed road map to resolve competition issues.


Read more at Reuters.com Mergers News

UPDATE 3-BHP eyeing rival bid for Alcan - sources

(Reuters) - NEW YORK/SYDNEY, June 19 - BHP Billiton Ltd.
, the world's largest mining group, is considering a
bid to rival a $28.7 billion offer for aluminium producer Alcan
Inc. , and has hired investment bank Merrill Lynch & Co.
, sources familiar with the matter said.




The emergence of BHP as a possible white knight in the face
of Alcoa Inc.'s hostile offer for Alcan came as Alcoa's
stock hit a six-year high on a report that the U.S. aluminum
company, and not its Canadian rival Alcan, was a target of BHP.
Alcoa stock eased to close less than 1 percent higher.


Read more at Reuters.com Mergers News

BHP Billiton revives Alcoa bid plans: paper

(Reuters) - Alcoa has itself made a $28.4 billion cash-and-stock hostile takeover offer for Alcan Inc. .




BHP was not immediately available for comment.


Read more at Reuters.com Business News

UPDATE 1-Alcan rejects Alcoa bid again, mulls options

(Reuters) - MONTREAL, June 6 - Alcan Inc. said on
Wednesday that Alcoa Inc.'s $28.3 billion takeover offer
was not good enough, but the Canadian aluminum maker did not
shed any light on its strategy to counter the hostile bid.




"The outcome still remains unknown. The value remains
inadequate," said Alcan spokeswoman Anik Michaud, reacting to
Alcoa's announcement that it had filed documents with U.S.
antitrust regulators related to its offer.


Read more at Reuters.com Government Filings News