Saturday, September 12, 2009
Asarco - it ain't over
Last week's recommendation by the bankruptcy judge in the Asarco case to go with Grupo Mexico's bid, caught me as much as it did anyone, by surprise. All the signs seemed to be pointing to Sterlite as the buyer of choice.
Yesterday, Sterlite raised it's bid to $2.565 billion in cash from $2.135, according to a company statement reported by Mineweb.com. Sterlite and Asarco reportedly also filed objections with the court over the Grupo recommendation.
[Thanks to Syver More for alerting me to this news]
at 5:25 AM