Australia's Alumina set for best week since end-Jan after buyout offer

Alumina

01/03/2024 24:30

** Shares of Alumina  AWC.AX  have risen about 7.6% so far
this week, and on track for their best week since Jan 26
    ** For the day, shares up 4% at A$1.0975 
    ** On Monday, the aluminium miner received a $2.2 billion
all-stock buyout proposal from U.S. aluminium producer Alcoa
 AA.N  in a deal that would give it greater upstream exposure
and simplify its operations
    ** Alumina stock up ~17% YTD  

   ($1 = 1.5401 Australian dollars)

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))