AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
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 …