South32 CEO open to M&A following Alcoa asset sale

South32

01/07/2026 01:30

    MELBOURNE, July 1 (Reuters) - South32  S32.AX  CEO Matthew
Daley said on Wednesday he was open to mergers and acquisitions
but any deal must add value to the company, after the
diversified miner agreed to sell the bulk of its aluminium
portfolio to Alcoa  AA.N  for up to $5.6 billion.
    "We will definitely look at opportunities that we see are
value accretive, that are strategically aligned and maintain our
financial strength, but they're going to have to compete for
capital with the organic pipeline," Daley said on an investor
call.
    

 (Reporting by Melanie Burton in Melbourne; Editing by Sonali
Paul)
 ((melanie.burton@thomsonreuters.com;))