Not much else to say, really, other than stating that usually knowledgeable sources indicate that Lehman Brothers are advising the Brazilians, while JPMorgan Cazenove are working for Mick Davis.
Oh, and the price: Xstrata are hoping to extract is £46bn - about £48 a share.
That was the rumour doing the rounds in London on Friday as Xstrata stock headed skywards. The quote was £36.92 at 12.39GMT, up 262p, having touched £37.10 at one stage.
While formal sources seemed to be away their phones, some speculators continued to peddle a tale that Anglo American (up 199p at £34.40) was Xstrata’s natural bedfellow.
But FT Alphaville understands it is CVRD.
