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Aerospace and Defense

Defense budgets are not declining as sharply as some had feared, but companies are scrambling to ensure continued earnings growth. Get exclusive insight into the defense sector from the Reuters Aerospace and Defense Summit.  Full Coverage 

    Xstrata confirms takeover talks with Vale collapse

    LONDON
    Tue Mar 25, 2008 7:45pm EDT

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    LONDON (Reuters) - Anglo-Swiss mining group Xstrata (XTA.L) confirmed on Tuesday that long-running takeover talks with suitor Vale (VALE5.SA) of Brazil had ended after the two sides failed to reach a deal.

    Asian Markets

    "While Vale and Xstrata continue to believe that a combination of the two companies could realize significant value for both sets of shareholders, we have not been able to reach agreement. We have therefore mutually decided to cease discussions," Xstrata Chief Executive Mick Davis said in a statement.

    (Reporting by Eric Onstad)
    Asian Markets


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