Alcoa extends deadline for Alcan bid

Rebuffed by Alcan Inc. in its takeover attempts, Alcoa Inc. said Monday it will extend the deadline for its bid to Aug. 10.

Alcoa's $27 billion US bid — or $33 billion US when acquired debt is included — was due to expire Tuesday. Alcan turned down the offer when it was announced in May.

The announcement was made as Alcoa reportedit made $715 million US in profit in the second quarter, down from $744 million US a year earlier.

Alcoa's revenue hit a quarterly high of $8.1 billion US, up from $7.8 billion US year-over-year.

Last week, Alcan revealed in an SEC filingit had rejected requests from its U.S. rival for a meeting. Alcoa has said it is willing to discuss raising its bid.

Alcan saidit is exploring its options, including talks with other parties. The Montreal company is reported to have opened its books to a few possible suitors, including Rio Tinto and BHP Billiton.