by Jeff Yoders on SEPTEMBER 2, 2016
Category:Commodities, M&A Activity, Non-Ferrous Metals
Alcoa removed a key obstacle from its plan to split this week and the London Metal Exchange will resume open outcry trading at its new office on Monday.
Alcoa, Alumina Settle Dispute
Alcoa, Inc. and Alumina Ltd. have settled a dispute and agreed to reshape their joint venture, removing an obstacle to Alcoa’s plan to split into two companies and making its Australian partner a more attractive takeover target.
The two companies agreed to end a court fight that had threatened to delay Alcoa’s plan to spin off its plane and car parts business, which is now set to go ahead by the end of this year.
LME Will Return Monday
The London Metal Exchange (LME) will resume open outcry trading at its offices in London’s financial district on Monday after repair works were completed, it said on Thursday.
The exchange, the world’s oldest and largest market for industrial metals, moved ring trading to an emergency venue in July after structural problems forced the shutdown of its offices at Finsbury Square.