Reuters ahead with Hydro’s $4.9 billion Vale transaction

Reuters was ahead with news on May 2 that Norwegian aluminium maker Hydro had bought mining and metal making assets from Brazil’s Vale for $4.9 billion. Tipped off by sources, Reuters was well prepared and beat Bloomberg by more than two minutes and other rivals by an even bigger margin. The deal was the biggest ever foreign acquisition by a Norwegian firm. We were also ahead with the price of the transaction, the structure of the payment, the strategic rationale and Hydro’s plans for a share issue. Reuters reporters in Brazil joined the coverage, which also comprised an analysis of the deal and a factbox detailing the assets. Shares in Hydro rose 2.6 percent in heavy volumes on May 3, the Monday after the weekend announcement.