South32 CEO: No Current Acquisition Talks, Mozal Smelter Attracting Interest Post-Alcoa Deal
AA sits 83% above its 52-week low of $28.11.
Summary
South32's CEO stated the company is not currently pursuing other acquisitions, focusing on its existing growth potential after selling most of its aluminum assets to Alcoa. The Mozal aluminum smelter, which was not included in the Alcoa deal, is attracting interest from other parties, and South32 is in talks with its partners about potentially selling its 64% stake. This provides further context to Alcoa's recent $4.1 billion acquisition, clarifying South32's post-deal strategy and the fate of related assets.
At the time of this announcement, AA was trading at $51.31 on NYSE in the Manufacturing sector, with a market capitalization of approximately $13.8B. The 52-week trading range was $28.11 to $84.38. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.