Anglo American rebuffed a "merger of equals" bid from Xstrata on Monday night.
Fiat needs to make sure that it does not repeat the mistakes that were made in DaimlerChrysler's so-called merger of equals, though.
Expect to see a lot about how this is a merger of equals, with a headquarters and chief executive in New York.
In 1998 the Germans returned with a deal pitched as a merger of equals, though it was not seen as such by most Americans.
Rather than a merger of equals, it still looks to some Canadians like a takeover of the moderate Progressive Conservatives by the western-based Alliance.
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Led by billionaire investor Kirk Kerkorian , the shareholders claim Daimler-Benz misrepresented the merger of Chrysler as a "merger of equals" in 1998.
In a statement, they said the new proposals represented "a fundamental change to the governance structure which underpinned the agreed merger of equals" initially announced in February.
In a statement, Xstrata's independent directors said the new proposals represented "a fundamental change to the governance structure which underpinned the agreed merger of equals" initially announced in February.
"We can confirm that Lucent and Alcatel are engaged in discussions about a potential merger of equals that is intended to be priced at market, " said a Lucent statement released late Thursday night.
Their relationship ended during a dispute over the terms of a deal to forge a single business out of Xstrata and Glencore, with Glasenberg annoyed that Davis joined a push for more generous terms, a demand which was met but which also turned a so-called merger of equals into a hostile takeover and the break-up of the team.
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As to reasons for the falling out, analysts pointed to the fact that what was supposed to be a merger of equals had become effectively a takeover of Dresdner by Deutsche: the bigger bank was to have held 60-64% of the new entity, which would be called just "Deutsche Bank", with Dresdner Bank share holders owning the other 36-40%.
Analysts say any merger would have to be one of equals, in reality as well as on paper unlike Dresdner's disastrous fling with Deutsche, which amounted to a thinly veiled takeover by the bigger rival.
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