Credit Suisse Says Xstrata Has Ideal Opportunity To Buy Alcoa (AA)
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Bloomberg covers a note from Credit Suisse on Alcoa (NYSE: AA), in which the firm said Xstrata Plc (OTC: XSRAF) may have an "ideal" opportunity to buy the aluminum producer.
Analyst Jeremy Gray said, "This could represent an ideal opportunity for Xstrata to buy what we see as an out-of-favor stock in a commodity that has still to show its true potential."
Gray said if Xstrata were to pay $51.50 a share in cash and aluminum prices jumped to $3,500 a metric ton, the acquisition would boost 2009 earnings as much 17 percent.
M&A chatters has been pushing shares of AA up lately.
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Xstrata - Alcoa - Vale
ari on May 9, 2008 11:11 PMwould this piece of news will give Strothotte and co. the backbone to sustain shareholders pressure to sell XTR at 50? and to Vale the courage to up their bid??