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Novelis Shares Surge on $3.6 Billion Buyout by Indian Aluminum and Copper Maker Hindalco
Shares of aluminum producer Novelis Inc. surged Monday on the first trading day after news that Indian aluminum and copper producer Hindalco Industries Ltd. would buy the Canadian company for $3.6 billion.
The deal would create the largest rolled-aluminum products manufacturer in the world, according to Hindalco.
