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Alcoa and Reynolds Receive Requests for Additional Information Under Hart-Scott-Rodino Act
PITTSBURGH and RICHMOND--September 30, 1999--
Alcoa (NYSE: AA) and Reynolds Metals Company (NYSE: RLM) announced today
that they have each received requests for additional information from
the Department of Justice (DOJ) under the Hart-Scott-Rodino Act
concerning their previously announced merger agreement. These second
requests extend the waiting period under the Hart-Scott-Rodino Act
during which the parties are prohibited from closing the transaction
pending DOJ review. The merger is conditioned on the expiration of the
Hart-Scott-Rodino waiting period and other customary conditions,
including Reynolds stockholder approval.
The companies said that they intend to respond promptly to the DOJ
request.
On August 19, 1999, Alcoa and Reynolds announced that they had reached a
definitive merger agreement under which Reynolds' shareholders would
receive 1.06 Alcoa shares for each Reynolds share they own.
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