Ann: Alumina and Alcoa enter into Exclusivity Deed, page-27

From memory the original Western Mining was split into two companies in 2002. There being AWC (53.7% of the old company) and the new WMC (46.3%).
The belief at the time was that AWC was most likely to be taken over by Alcoa.

BHP took over WMC mid 2005 for $7.85. I sold most of my AWC in May 2006 for $8.15/share and the remainder for $1.54/share in July 2014.

I am aware that there were contributing issues in September 2008 (5:19 at $3.00) and May 2009 (7:10 for $1.00) which we took up. I can't help feeling that AWC shareholders have been really short changed in this takeover that should have taken place 20 years ago at a fair price.