Tuesday, February 06, 2007

Novelis (NVL) Up on More Takeover Rumors

Novelis Inc. (NYSE: NVL) is moving higher again today on talk a takeover offer from Hindalco could be announced soon. Reports today suggest Hindalco could make a $6-$8 billion bid, higher than the $5-$6 billion price range originally discussed.

In Late January, Novelis confirmed it was in discussions with various parties that could lead to a potential sale of the Company.

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