The joint venture between Alcoa (NYSE:AA) and Alumina (NYSE:AWC), which Alumina holds a 40 percent share in, may have a value up to $11 billion, according to Alumina chairman Don Morley.
I'm not sure about all that, as the value of AWAC alone with the 40 percent share of Alumina would value the company higher than the current $4 billion it is, including all its assets.
At that value, Alumina could be a takeover targer for Alcoa, although the company says the improving price of aluminum should improve the valuation of Alumina as earnings increase.
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