if you were on xstrata's board...
...would you really think now would be the right time to make an offer in the current political climate? Of course not. In my opinion the fact that they haven't done anything is good as by now they would have done all the due diligence required and are waiting for the right time to make an offer. See if they weren't interested Xstrat's board would announce the fact sooner rather than later because the indecision can only hurt their share price!
