SYDNEY (Thomson Financial) - BHP Billiton will not launch a 45 billion US dollar bid for Alcoa Inc but instead is considering a similar size bid for US copper miner Freeport McMoRan Inc, the Australian newspaper reported on Friday, citing unnamed sources.
Speculation has been rife that BHP Billiton would make a move on Alcoa which last week was seen as becoming a possible takeover target after it withdrew a hostile offer for Alcan Inc because Rio Tinto launched a friendly 38.1 billion dollar bid for the Canadian aluminium group.
Analysts have said Alcoa's other potential suitors include Brazil's CVRD and London-listed Xstrata PLC.
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