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(Adds details from Alcoa's statement in paragraphs 4-7 & 11)
March 12 (Reuters) - Australia's Alumina Ltd said on Tuesday it has agreed to be acquired by U.S. aluminium producer Alcoa for a $2.2 billion all-stock buyout offer.
The terms of the deal are consistent with Alcoa's offer for Alumina announced on Feb. 26, when Alcoa's CEO William Oplinger told analysts the deal would eliminate Alumina's overhead costs of A$12 million ($7.93 million) a year.
Under the deal, Alumina shareholders would...
>>> Read more: UPDATE 2-Australia's Alumina agrees $2.2 bln all-stock buyout offer from US-based Alcoa
March 12 (Reuters) - Australia's Alumina Ltd said on Tuesday it has agreed to be acquired by U.S. aluminium producer Alcoa for a $2.2 billion all-stock buyout offer.
The terms of the deal are consistent with Alcoa's offer for Alumina announced on Feb. 26, when Alcoa's CEO William Oplinger told analysts the deal would eliminate Alumina's overhead costs of A$12 million ($7.93 million) a year.
Under the deal, Alumina shareholders would...
>>> Read more: UPDATE 2-Australia's Alumina agrees $2.2 bln all-stock buyout offer from US-based Alcoa
