Sunday, March 01, 2009

Sterlite cuts offer for Asarco by 45%

News from Reuters India is that Sterlite Industries has reduced it's offer for the bankrupt Asarco from $2.6 billion last year to somewhere in the $1.4-1.5 billion range, a drop of 43-47%. In addition, half of the price would be paid in installments over 5 years.

If the companies agree, the deal could be signed within a couple weeks.

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