TORONTO (Reuters) — Alain Belda, expected to retire next year after nearly a decade as chief executive of Alcoa Inc. , is hoping to go out on top after offering $27 billion to buy Canadian rival Alcan Inc.The $73.25-a-share offer announced yesterday would return Alcoa to the top spot in the global aluminium industry, a bragging right it lost last year to Russian rival Rusal.

For the Moroccan-born Belda, 63, pulling off the deal would cap a career that started in 1969, when he joined the company's Brazilian affiliate Alcoa Aluminio.

From there, he advanced through Alcoa's Latin American operations, then moved to Pittsburgh, and took over as CEO in 1999. He added the title of chairman two years later.

"People have been waiting for him to do something big, and he's doing it," said John Redstone, analyst at Desjardins Securities in Montreal.

The Alcan offer is not the first major deal for Belda. Alcoa spent about $8 billion under his watch in 2000 to acquire Reynolds Metals and Cordant Technologies.

The Alcan deal could face hurdles, however, as it will face a review from antitrust regulators, and it could see competition from other suitors if it follows the trend of other recent takeovers in the metals and mining sector.

When asked about a potential bidding war Monday, Belda said: "We're prepared for anything."

Belda became a Brazilian citizen in 1982. Before joining Alcoa, he worked as an accountant at BASF for four years.