Xstrata (LONDON: XTA.L) recently confirmed that it is in talks to be acquired by Brazilian iron ore giant Companhia Vale do Rio Doce (CVRD) for as much as $100 billion. A combination of the two firms would create the world's largest thermal coal exporter, the largest iron-ore producer, and a leading copper, zinc, and nickel producer. With the field of big mining companies narrowing sharply, a bidding war for Xstrata is possible.