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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.

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"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)
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