Global aluminum producer Alcoa, based in
According to the JP Morgan analysis, either of the two mining giants could put together the capital to make such a deal, which the firm estimates would cost in the range of $50 billion.
Other analysts contacted by Reuters seemed to agree with the JP Morgan analysis, with one noting that BHP Billiton’s energy holdings have been making it flush with cash to help make such an acquisition.
But another analyst contacted by Reuters sees Rio Tinto as needing “new blood” and perhaps being the one more both more eager to purchase Alcoa and providing a better fit for the aluminum company’s assets.
None of the companies involved has released statements commenting upon the scenarios posited in the JP Morgan report.
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