OK, so who doesn't want to buy Inco? The latest bidder at the table is Brazil's CVRD. The company plans to offer a whopping $15.1 billion for the popular miner.

It's hard to believe that – in the Internet Age – the big money is not being made with companies like eBay or Yahoo, but with crusty commodities companies. Then again, the world is undergoing an tidal wave of industrialization, especially in China and India.

That means there will be lots of demand for nickel, which is good news for Inco's shareholders. Interestingly enough, since Inco sold itself a month ago, there are now six bidders chomping at the bit to snag the company.

Actually, CVRD looks like a good bet as the winner in the contest. The company is massive, with a market cap of $55 billion.

So, should investors grab more stock of Inco? Probably not. It's getting into nose-bleed levels right now – and as usual, the pros have taken much of the profits already.

Tom Taulli is the author of a variety of books, such as the Complete M&A Handbook (Random House) and has his own firm, InvestorOffering.com.

A billion here, a billion there – yes, pretty soon, it adds up to a lot of money. That's the case with today. Wall Street was able to strike up $90 billion in merger & acquisition (M&A) deals.

Even during the boom times of the 1980s and 1990s, this would be a blockbuster day. 

Here's a look at the key deals:

First, Phelps Dodge crafted a $40 billion deal to buy two companies in the nickel mining business, Inco Ltd. and Falconbridge Ltd. With the transaction, Phelps Doge will have 40,000 employees. The company's name also changes to Phelps Dodge Inco (kind of like a law firm, huh?) The massive entity will be the #2 worldwide in copper and molybdenum, as well as #1 for nickel.