South32 CEO open to M&A following Alcoa asset sale
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A sign adorns the building where Australian miner South32 has their office in Perth, Western Australia, November 19, 2015. REUTERS/David Gray/File Photo/File Photo
MELBOURNE, July 1 (Reuters) - South32 CEO Matthew Daley said on Wednesday he was open to mergers and acquisitions but any deal must add value to the company, after the diversified miner agreed to sell the bulk of its aluminium portfolio to Alcoa for up to $5.6 billion.
"We will definitely look at opportunities that we see are value accretive, that are strategically aligned and maintain our financial strength, but they're going to have to compete for capital with the organic pipeline," Daley said on an investor call.
(Reporting by Melanie Burton in Melbourne; Editing by Sonali Paul)
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