Alcoa a takeover target, report says

Two Australian mining companies are preparing to make an offer to buy Alcoa Inc., the Pittsburgh-based aluminum giant, according to The Times of London. The newspaper, citing unnamed sources, said BHP Billiton and Rio Tinto PLC have written feasibility studies for a bid. However, Reuters, also citing an unnamed source, reported that BHT Billiton is not working on a bid.

Alcoa operates employs about 4,000 in Indiana. It has plants in Auburn, Crawfordsville, Lafayette, La Porte and Warrick, as well as at a plastic-bottle-cap plant in Indianapolis near 71st Street and I-465 on the northwest side.