Offer for Alcan successful

RNS Number:2491G
Rio Tinto PLC
24 October 2007



Date: 23 October 2007



Rio Tinto Offer for Alcan successful - Offer extended to November 8, 2007

Rio Tinto today announces that approximately 298,759,000 common shares of Alcan
Inc. (which represent approximately 79.41% of the outstanding shares on a fully
diluted basis) have been validly deposited and taken up under the offer by Rio
Tinto Canada Holding Inc. ("RTCH") to acquire all the shares of Alcan (the "
Offer").  RTCH has also received notices of guaranteed delivery covering
approximately an additional 21,336,000 Alcan common shares (which represent
approximately 5.67% of the outstanding shares on a fully diluted basis).

All of the conditions of the Offer have been satisfied and the initial offering
period, which was extended until October 23, 2007, is now closed for acceptance.
RTCH has taken up all the Alcan shares deposited under the Offer and those
shares may no longer be withdrawn.  Payment for the deposited shares will be
made to the depositary on October 25, 2007.  The shares covered by notices of
guaranteed delivery will be taken up when the certificates representing them are
delivered.

RTCH has extended the Offer until 6:00 P.M. (Canadian Eastern Time) on November
8, 2007 by commencing a subsequent offering period (the "Subsequent Offering
Period") to allow those Alcan shareholders who have not already deposited their
shares under the Offer the chance to do so.  They will receive US$101 per share
as was offered during the initial offering period.  A notice of extension will
be mailed promptly.  RTCH will immediately take up and promptly pay for all
Alcan shares validly deposited under the Offer during the Subsequent Offering
Period.

Paul Skinner, chairman, Rio Tinto said: "We have been working towards our offer
for Alcan becoming unconditional and have now passed the final milestone, with
more than two thirds of Alcan shareholders having tendered their shares. This
landmark deal will contribute significantly to Rio Tinto's strategy of creating
shareholder value through building a portfolio of globally-leading, high
quality, long life, low cost assets."

Tom Albanese, chief executive, Rio Tinto, said "We now look forward to combining
Alcan's excellent assets with our own aluminium operations to create the world's
leading aluminium producer, to be known as Rio Tinto Alcan.  The outlook for
aluminium remains strong and the prospects for Rio Tinto Alcan are excellent.
Rio Tinto Alcan will be a strong operational platform to pursue new growth
opportunities in aluminium."

If RTCH acquires more than 90% of the Alcan shares, upon expiry of the Offer, it
intends to acquire all shares it does not then own by way of statutory
compulsory acquisition pursuant to the Canada Business Corporations Act.

If permitted by applicable law, RTCH intends to cause Alcan to cease to be a
reporting issuer under Canadian securities legislation and to apply to delist
the Alcan common shares from the Toronto Stock Exchange, the New York Stock
Exchange, the London Stock Exchange, the SWX Swiss Exchange, Euronext Paris and
Euronext Brussels (with respect to the international depositary receipts) and to
cause the Alcan common shares to be deregistered under the US Securities and
Exchange Act of 1934 as soon as practicable after the completion of the Offer.

About Rio Tinto



Rio Tinto is a leading international mining group headquartered in the UK,
combining Rio Tinto plc, a London listed company, and Rio Tinto Limited, which
is listed on the Australian Securities Exchange.



Rio Tinto's business is finding, mining, and processing mineral resources. Major
products are aluminium, copper, diamonds, energy (coal and uranium), gold,
industrial minerals (borax, titanium dioxide, salt, talc) and iron ore.
Activities span the world but are strongly represented in Australia and North
America with significant businesses in South America, Asia, Europe and southern
Africa.



                                                                         Cont...


For further information, please contact:
Media Relations, London                            Media Relations, Australia
Christina Mills                                    Ian Head
Office: [phone]                       Office:  [phone]
Mobile: [phone]                       Mobile:  [phone]


Nick Cobban
Office:  [phone]                      Amanda Buckley
Mobile:  [phone]                      Office:  [phone]
                                                   Mobile: [phone]

Investor Relations, London                         Investor Relations, Australia
Nigel Jones                                        Dave Skinner
Office: [phone]                       Office:  [phone]
Mobile: [phone]                       Mobile: [phone]
                                                   Investor Relations, North America

David Ovington                                     Jason Combes
Office:  [phone]                      Office:  [phone]
Mobile: [phone]                       Mobile: [phone]


Email: [e-mail]


Website: www.riotinto.com

High resolution photographs available at: www.newscast.co.uk





Additional information



The offer to purchase all of the issued and outstanding common shares of Alcan
for US$101 per common share in a recommended, all cash transaction (the "Offer")
is being made by Rio Tinto Canada Holding Inc. (the "Offeror"), an indirect
wholly-owned subsidiary of Rio Tinto.  The address of the Offeror is 770
Sherbrooke Street West, Suite 1800, Montreal, Quebec, H3A 1G1.  The Offer
represents a total consideration for Alcan common shares of approximately
US$38.1 billion.



The subsequent offering period has commenced and the Offer is open for
acceptance until 6.00 p.m., Canadian Eastern Time, on November 8, 2007, unless
extended.



This announcement is for information purposes only and does not constitute or
form part of any offer or invitation to purchase, otherwise acquire, subscribe
for, sell, otherwise dispose of or issue, or any solicitation of any offer to
sell, otherwise dispose of, issue, purchase, otherwise acquire or subscribe for,
any security. The Offer (as the same may be varied or extended in accordance
with applicable law) is being made exclusively by means of, and subject to the
terms and conditions set out in, the offer and takeover bid circular delivered
to Alcan and filed with Canadian provincial securities regulators and the United
States Securities and Exchange Commission (the "SEC") and mailed to Alcan
shareholders.



The release, publication or distribution of this announcement in certain
jurisdictions may be restricted by law and therefore persons in such
jurisdictions into which this announcement is released, published or distributed
should inform themselves about and observe such restrictions.



In connection with the Offer, an offer and takeover bid circular as well as
ancillary documents such as a letter of transmittal and a notice of guaranteed
delivery have been filed with the Canadian securities regulatory authorities and
the SEC and an Alcan directors' circular with respect to the Offer has also been
filed. A Tender Offer statement on Schedule TO (the "Schedule TO") and a
Solicitation/Recommendation Statement on Schedule 14D-9 (the "Schedule 14D-9")
has also been filed with the SEC.



SHAREHOLDERS OF ALCAN ARE URGED TO READ THE OFFER AND TAKEOVER BID CIRCULAR, AS
AMENDED (INCLUDING THE LETTER OF TRANSMITTAL AND NOTICE OF GUARANTEED DELIVERY),
THE SCHEDULE TO (INCLUDING THE OFFER AND TAKEOVER BID CIRCULAR, LETTER OF
TRANSMITTAL AND RELATED TENDER OFFER DOCUMENTS) AND THE SCHEDULE 14D-9 AS THEY
CONTAIN IMPORTANT INFORMATION ABOUT THE OFFER.



The offer and takeover bid circular as well as other materials filed with the
Canadian securities regulatory authorities are available electronically without
charge at www.sedar.com. The Schedule TO and the Schedule 14D-9 are available
electronically without charge at the SEC's website, www.sec.gov. Materials filed
with the SEC or the Canadian securities regulatory authorities may also be
obtained without charge at Rio Tinto's website, www.riotinto.com.



While the Offer is being made to all holders of Alcan common shares, this
announcement does not constitute an offer or a solicitation in any jurisdiction
in which such offer or solicitation is unlawful. The Offer is not being made in,
nor will deposits be accepted in, any jurisdiction in which the making or
acceptance thereof would not be in compliance with the laws of such
jurisdiction. However, the Offeror may, in its sole discretion, take such action
as it may deem necessary to extend the Offer in any such jurisdiction.



The Offer is made to holders in France of Alcan common shares admitted to
trading on Euronext-Paris. An announcement including the main information
relating to the Offer documents has been prepared and released pursuant to
article 231-24 of the AMF General Regulation and contains information relating
to how and in which time limit Alcan shareholders residing in France can accept
this Offer. The offer document and the announcement prepared pursuant to article
231-24 of the AMF General Regulation, as amended on 17 September 2007, 23 and 24
October 2007, are available free of charge to the holders of Alcan Shares
registered with Euroclear France who request it from Citi France, Global
Transaction Services, Operations department, 19 le Parvis la Defense 7, 92073
Paris la Defense. They are also available on the internet at the following
address: www.computershare.com/Rio-AlcanFrenchofferdocument.



The Offer is made to holders in Belgium of Alcan common shares and/or
certificates admitted to trading on Euronext Brussels (the "IDRs"). A Belgian
supplement, addressing issues specific to holders of Alcan common shares and/or
IDRs in Belgium (the "Belgian Supplement") was approved by the Belgian Banking,
Finance and Insurance Commission (the "BFIC") on 2 August 2007. A first notice
of extension of the Offer was approved by the BFIC on 18 September 2007 (the 
"First Supplement").  A second notice of extension of the Offer was approved by
the BFIC on 23 October 2007 (the "Second Supplement").  The offer document, the
Belgian Supplement, the First Supplement and the Second Supplement are available
free of charge to the investors in Belgium who request it from the Belgian
branch of Citibank International plc, Department GTS Operations, 4th floor,
boulevard General Jacques 263G, 1050 Brussels. They are also available on the
internet at the following address: www.computershare.com/
Rio-AlcanBelgianofferdocument.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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