"Xstrata's shares, driven by renewed speculation concerning Vale's intentions, swung past the £40 mark – to 4,060p, up 113p – at which the Brazilians were believed to have pegged an early, indicative offer to take over the company."
http://www.independent.co.uk/news/business/sharewatch/market-report-takeover-talk-pushes-xstrata-past-16340-mark-785625.html