BHP eyeing bid for Alcoa: report

BHP Billiton Ltd. is reported to be considering reviving plans to make a takeover bid for Alcoa Inc., which is in the midst of a play for Canada's Alcan Inc.

The Times of London newspaper said Monday the BHP offer could be worth about $40 billion US.

Similar reports emerged in February, but BHP chief executive Chip Goodyear wanted to give money back to company shareholders rather than make a bid. However, Goodyear's tenure in his current role ends in October.

BHP offered no comment when contacted by the Associated Press. Based in Australia, BHP is the world's largest mining company.

In May, Montreal-based Alcan rejected a $27-billion US takeover bid — or $33 billion US when acquired debt is included — from Alcoa, calling it inadequate.