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Alcoa's 'lust' pays off with Alumax buy. (Aluminum Company of America)
Alumax CEO, board played hard-to-get with O'Neill
Allen Born wasn't an easy sale.
Paul O'Neill, chairman and CEO of Alcoa, called him, faxed him at home on a Sunday morning, lobbied individual members of Mr. Born's board and otherwise badgered him for two years before getting Mr. Born and the directors of Atlanta-based Alumax inc. to agree to sell the company for $3.8 billion.
"They've been lusting after us," Mr. Born said. "They want our assets and our technology."
For Mr. Born, it's the conclusion of a 13-year effort to shine up the aluminum producer and its former parent company, Amax Inc.
If the deal closes as planned this summer, the …
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- Alcoa's 'lust' pays off. (Aluminum Co of America's acquisition of Alumax Inc)
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Magazine article from: Atlanta Business Chronicle
Coleman, Zach
March 27, 1998
700+ words
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- Alcoa Executive Takes Over at Acquired Richmond, Va., Subsidiary.
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News wire article from: Richmond Times-Dispatch (Richmond, VA)
May 12, 2000
700+ words
