"It seems a formal offer for Xstrata, the Anglo-Swiss mining company, will be announced very soon. It is understood that Vale, the Brazilian mining group, has raised its offer informally for the company. Shares in Xstrata yesterday shot up 113p, or nearly 3%, to £40.60 on the news. The price range is still being discussed."
http://www.guardian.co.uk/business/2008/feb/22/marketforces.interestrates