LONDON (AP) - Shares of Alcoa Inc. increased in Europe on Monday after the Times newspaper reported that BHP Billiton Ltd. is reviving plans to make a US$40 billion offer for the aluminum company.
BHP, the world's largest mining company, had previously considered making an offer for Alcoa in February, but Chief Executive Chip Goodyear preferred to return cash to shareholders, the newspaper said.
Still Goodyear is due to stand down from his position in October to replaced by Marius Kloppers and the report said a potential offer is once again being considered.
''We don't comment market on rumor,'' BHP Billiton spokesman Illtud Harri told the Associated Press.
Alcoa's Europe-listed shares rose 3.2 percent $42.86 in Frankfurt. BHP Billiton shares rose 1.3 percent to $27.20 in London.