Reports Novelis (NVL) Could Be Acquried

Aditya Vikram Birla group is exploring the possibility of acquiring Novelis (NYSE: NVL). According to the Hindustan Times citing highly placed sources, the group could offer $5-6 billion.

The article also says the group has already completed preliminary due diligence and now has management support to move forward with a bid.

The stock is currently halted.