Quebec taxpayers are getting shafted!Recently Jean Charest PM of Quebec gave Alcan reduced electrical rates in return for a guarantee that it’s head office would remain in Quebec. It is estimated that this gift represent around 20% of Alcan’s market value.
With Alcoa bid, the shareholders of Alcan will be able to cash-in on this plus value. The long term future of the Montreal head-office under Alcoa govern will probably be very bleak.