October 14, 2008

Vale Xstrata tie up - Xstrata shares slide talks collapse

Reuters reported that shares in Anglo Swiss miner Xstrata tumbled on Wednesday after the collapse of talks with Brazil's Vale to buy the company and forge a massive mining group.

As per report Xstrata shares dropped more than 12% at the opening, after the two firms said late on Tuesday they failed to agree on terms of what would have been one of the world's biggest takeovers, valued by some analysts at USD 90 billion.