Glencore is trending as the commodities trader said it will not alter the bid it has made for Xstrata, despite the miner's investors calling for it to be improved. Glencore, which calls its existing offer a fair deal for all shareholders, has offered $37 billion for Xstrata. Glencore already owns a 34% stake in Xstrata. Glencore has called the deal a "merger of equals," while some Xstrata investors have claimed the bid does not recognize the miner's potential. The deal would create the fourth-largest mining company and be the sector's largest deal since Rio Tinto's ( RIO) acquisition of Alcan in 2007.
American International Group ( AIG) is another hot trend. AIG has announced it is selling $6 billion of AIA Group shares in an effort to pay back the U.S. government for some of its bailout in the 2008 financial crisis. AIG, which received a $182.3 billion bailout during the crisis, is said to be looking to sell a "significant proportion" of its 33% stake in Asian unit AIA Group. AIG already sold roughly two-thirds of AIA Group in an initial public offering in 2010. The U.S. government owns 77% of AIG.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. -- Written by Brittany Umar.