(Reuters) - "Given Alcoa's long history of failing to generate shareholder value through acquisition, we believe that its greatest value can be realized through a sale or break-up of the company," JANA managing partner Barry Rosenstein said in a letter to Alcoa Chairman and Chief Executive Alain Belda.
On Tuesday, aluminum producer Alcoa launched a hostile bid for Alcan worth nearly $27 billion after talks between the two aluminum producers failed to lead to a deal.
Read more at Reuters.com Mergers News
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