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.

Freeport-McMoRan (FCX) Takeover Seems Unlikely - CNBC

CNBC's David Faber said a takeover bid for Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX), which recently announced a mega-merger deal with Phelps Dodge Corp. (NYSE: PD), seems unlikely. On Friday rumors swirled BHP Billiton (NYSE: BHP) or Rio Tinto plc (NYSE: RTP) could target the company in a takeover.

Rumors Swirl Acquirer Freeport-McMoRan (FCX) Is Itself a Takeover Target

Rumors are abound that Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX), which recently announced a mega-merger deal with Phelps Dodge Corp. (NYSE: PD), could itself be a takeover target. Rumored suitors include BHP Billiton (NYSE: BHP) and Rio Tinto plc (NYSE: RTP). This rumor was just mentioned on CNBC, but has been mentioned at Reuters, FT.com and other sites.