"The situation is unlike any I have ever seen," said a senior executive of an aluminum company.

The deal, worth $30 billion, will create the worlds largest aluminum company.

And the same month, he blocked the merger of three major aluminum companies.

Alcan, like other aluminum companies, has been doing well recently.

The worst performer was Alcoa, the aluminum company, which lost 3.9 percent last week.

Formally, the local electric utility started the aluminum company's bankruptcy.

"We think it's the best-managed aluminum company in the world," he said.

Alcoa and many other aluminum companies, for example, now say that climate concerns could benefit their industry.

They can play the steel companies against the aluminum companies and cut their costs in the process.

If the bankruptcy served the needs of the governor, it did not help the aluminum company's largest creditor.