Xstrata is a major global diversified mining group. Xstrata maintains a meaningful position in six major international commodity markets: copper, coking coal, thermal coal, ferrochrome, vanadium and zinc, with additional exposures to gold, lead and silver. The Groups operations and projects span four continents and seven countries: Australia, South Africa, Spain, Germany, Argentina, Peru and the UK.

            Red = 25 day moving average.           Green = 200 day moving average.

SALES PER ACTIVITY (Data as of 31/12/2005)

Coal:       42%
Copper:    25%
Zinc:       18%
Chrome:   10%
Vanadium: 4%
Others:     1%

I would say the hunter, but in an amicable way (i.e. not a hostile takeover):

"Xstrata confirms that its ongoing interaction with other industry participants includes dialogue with a number of parties covering a range of topics of mutual interest such as industry consolidation,' Xstrata said
Xstrata chief executive Mick Davis is also understood to be trying to interest Anglo American PLC in a deal, they said."

Snippet from Saturday's (19th Jan) Times:
"Xtrata was the top performer, up 266p at 33.63 on speculation that Vale, of Brazil, had cancelled a road show next week to finalise a bid."

In the Sunday Times today, almost as a footnote to article re BLT and RIO:
"Meanwhile, Companhia Vale de Rio has started due diligence on a potential bid for Xstrata."

just hope it's not some depraved individual indulging himself with lascivious thoughts on how to make himself millions when everyone dives in

actually both XTA and RIO could/should make interesting punts for the early birds

More likely a salacious individual not wishing to deprive herself of the rewards she may reap from having already plunged in

totally scandalous ... most depraved behaviour that ill-becomes a gentlewoman

so Ms Toya, did you catch all those blokes with their knickers down? ...... i confess to being amazed that XTA opened on such a down note .... guess it's because the chinese are playing hardball re iron ore prices, or at least i can think of no other reason.

anyway, have just bought in fairly modestly at 3209, as the fall looks unwarranted and if the much-touted bid does materialise, it will surely be at a much higher price than currently enjoyed (perhaps an interesting choice of word!)

XTA briefly touched 3500 this morning, now still above 3400 so you and I both in profit Cynic - enjoy it while we may!

Info in The Observer over the weekend:

Link to Observer article 20 January 2008

Cor, cynic. Hope you were watching your screen. Could have made 5% this morning, but now heading in to negative territory.

thought of taking a very juicy instant profit before i left the office for 3-4 hours but determined, perhaps wrongly against it ..... however, i invested fairly cautiously and at what looks a good price so am still in the money

SAO PAULO, Brazil (AP) -- Brazilian miner Vale said Monday it is in talks that could lead to a purchase of Swiss mining company Xstrata PLC, and two leading Brazilian newspapers reported the price could go as high as $90 billion.

Companhia Vale do Rio Doce SA, the planet's biggest producer of iron ore, the raw ingredient in steel, said it has been "maintaining a dialogue" with the Swiss miner but that no deal has been reached.

Vale also said it is analyzing several other options involving mining assets, but it did not specify them and said "these negotiations did not generate any concrete results yet."

any idea what $90b would mean per share?
that said, everything quoted is pure hypothesis and suitably hedged accordingly

According to an RNS of 12 December 2007, the no. of shares in issue is: 971,666,920

Times Online cites 971.67 million shares, giving a market cap of 32,677.16m

Highest figure I'd heard previously was for an offer of 42-45 per share. That would equate to a total value of, say: 42 x 971.67mln = 40,810,000,000.

So the $90b would be in that range of 42-45 per share (I think!?)

i'ld settle for an offer of 40 quid and be happy to exit around 38

Anglo Am are possibly going to bid 35b.
Market cap is roughly 31b (as Toya says).
I would say that equates to nearer 36 per share, but with a bidding war, who knows?

Vale have issued an RNS today to officially confirm that they are in talks

RNS re Vale in talks with XTA

Q is whether or not Vale or anyone else reckons now is the time to start a t/o ...... i guess the predator always intended an offer with a good cash element, then something may yet emerge

Whatever Vale might say, now would actually seem quite a good time as they might be able to do a deal at a lower price than when the markets are whizzing along.

good morning little temptress .... r u trying to inveigle us all into buying now? ...... actually, have heard worse ideas ...... could have done so a lot cheaper earlier this morning, for sp now virtually back to last night's close ...... whether it will stay firm is anyone's guess