The Financial Times reports Xstrata was opening its mining assets to be taken over by multiple suitors. The newspaper reports Vale (formerly CVRD), Xstrata's cross-town rival in Sudbury, might have the inside track. Vale reportedly has hired Lehman Brothers to look at a possible deal worth more than 38-billion (UK) pounds.
Vale Inco spokesperson Angie Robson in Sudbury says it's company policy not to comment on rumour and speculation. But technical committees from both companies have been meeting to discuss options to integrate operations in the Sudbury camp.
No comment was forthcoming from Xstrata's head office in Toronto.
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