Alcoa Courts Alcan

In the world of mining and minerals,consolidation is king.That is why Alcoa(AA) is courting its Canadian rival Alcan.It would be the second-largest deal ever in the sector.Alcoa is offering 73.25 a share,plus stock.The total value of the deal is thirty-three billion in cash,stock and debt.According to Alcoa,the transaction would result in one billion in savings.Alcoa recently closed a plant in Frederick County,Maryland because of its inability to find cheap electricity.To satisfy Canadian regulators,the company would maintain headquarters in both New York and Montreal.