Alcoa and Hyundai Terminate Memorandum of Understanding.Business Editors PITTSBURGH--(BUSINESS WIRE)--Jan. 11, 2000 Alcoa Inc. (NYSE NYSE See: New York Stock Exchange :AA) announced today the termination of its memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. that it entered into with the Hyundai Group Hyundai Group is a South Korean conglomerate company (chaebol) founded by Chung Ju-yung. The first company in the group was founded in 1947 as a construction company. on November 3, 1999 to purchase shares of Aluminum of Korea, Ltd. (Koralu), which is owned by the Hyundai Group Companies. Liabilities disclosed during the course of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. investigations resulted in the termination. Efforts to negotiate an alternative transaction have been unsuccessful. Koralu is Korea's largest aluminum flat-rolled products producer. Alcoa is the world's leading producer of aluminum and alumina and is active in all major segments of the industry: mining, refining, smelting, fabricating and recycling. |
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