Vale confirms Xstrata talks

Brazilian mining giant Vale said Monday it has held takeover talks with Anglo-Swiss rival Xstrata, which analysts said could lead to a deal worth more than $100 billion.

Vale , the world's largest iron-ore producer, said launching what would be the biggest takeover by a Brazilian company.

The deal would be the latest in a wave of large companies from emerging economies scooping up rivals in Europe and the United States.

Via Reuters