BUZZ-Australia's Alumina jumps after agreeing to $2.2 bln all-stock buyout offer

Reuters03-12

** Shares of Alumina Ltd up 9.6% at A$1.288, their highest since Aug 22, 2023

** AWC says it has agreed to the all-stock buyout offer from U.S. aluminium producer Alcoa for a $2.2 billion

** Terms of the deal are consistent with Alcoa's offer announced on Feb. 26, and offers a 13% premium to Alumina's last closing price on Feb. 23

** Co board recommended that shareholders vote in favour of the deal, in the absence of a superior proposal

** Stock up ~30% YTD as of last close

(Reporting by Ayushman Ojha in Bengaluru)

((Ayushman.ojha@thomsonreuters.com;))

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