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Rio Tinto Bids $38.1 Billion for Alcan

Thursday, 12 Jul 2007 | 11:05 AM ET

Rio Tinto made a $38.1 billion cash bid for Alcan on Thursday. The offer was supported by the Canadian aluminum producer's board and trumped the hostile takeover offer from Alcoa. CNBC's Guy Johnson talks to Andrea Hotter, Assistant News Editor, Commodities at Dow Jones Newswires, about the deal.