Brazilian mining company Companhia Vale do Rio Doce (Vale) has denied market rumors that it is interested in proposing a revised bid for Switzerland-based mining group Xstrata Plc. (Xstrata).
In a statement on the issue, Vale said it "denies rumors and states that it is not negotiating and it has no intention to make an offer to acquire Xstrata or a stake of Xstrata."
Vale terminated talks to acquire Xstrata in April, saying it could resume negotiations if the circumstances changed. The deal would have been one of the biggest ever, according to some market analysts at a price value of around $90 billion.