Alcoa (AA) Higher on Reports of Bids from BHP Billiton Ltd. (BHP) and Rio Tinto PLC (RTP)

Share of Alcoa (NYSE: AA) are higher in pre-open trading on reports in Europe, BHP Billiton Ltd. (NYSE: BHP) and Rio Tinto PLC (NYSE: RTP) are each considering bids for the company worth around $40 billion.NOTE:

A follow-up report from Reuters said BHP Billiton was not working on a bid for Alcoa, citing a source close to the matter.