Novelis in talks to sell company

By Angela McDaniels

Seattle, Jan. 26 - Novelis Inc. is in discussions with various parties that could lead to a potential sale of the company, according to a new release.

The company said it made the announcement in response to increased trading volume in its common stock. Nearly 10 million shares traded on the day, compared with a three-month average volume of 430,131 shares.

The stock (NYSE: NVL) jumped 23.8%, or $7.17, to end Friday at $37.30.

Novelis is based in Atlanta and manufactures aluminum rolled products and recycled aluminum cans.

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