Word: engen
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Dates: during 2003-2003
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...based on hard-nosed cost savings. Alcan's bid for Pechiney is a case in point. The two companies attempted to combine operations in a three-way merger with a Swiss firm in 1999, only to be thwarted by the E.U.'s antitrust regulators in Brussels. Alcan ceo Travis Engen says that in order to consummate the deal, he's now willing to give up some of the aluminum-rolling operations that were the problem last time around. "The fit is really, really good," he says. Pechiney is holding out for now, and there's pressure on Alcan to raise...