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Last month Northern withdrew backing for an all share merger with Greencore after it received a 73p a share cash bid from entrepreneur Ranjit Boparan.
Vista said it was considering a possible cash offer, which would scupper the proposed all share merger between Misys and Swiss rival Temenos.
In a statement to the London Stock Exchange, Xstrata said it was holding talks with Glencore on an "all share merger of equals which may or may not lead to an offer being made by Glencore for Xstrata".
An all share merger proposal from Clive Cowdery's buy-out group Resolution for Friends Provident put some life into the insurance sector, which has been under the cosh recently on concerns about its capital strength.
But Tui Travel jumped 11.1p to 292.5p after it revealed it had been approached by Tui AG, which owns just over 35%, about a nil premium all share merger.
Weir slipped 18p to £25.18 after the Scottish pump maker confirmed it had made an approach to Finnish rival Metso about an all share merger to create a company worth some £8bn.
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Shares in Singapore Telecommunications, its merger ambitions potentially jeopardized by the CyberWorks bid, fell 1.5percenttoto a 10-month low.
2012: Glencore and Xstrata agree an all-share merger.
The good oilOil-industry consolidation continues, as Phillips Petroleum and Conoco announced a $15 billion all-share merger.
Xstrata admitted that it was in talks with Glencore about an all-share merger of equals.It should succeed.
A year ago, the insurer ditched an all-share merger with rival Chaucer after four months of discussions.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com