Tuesday, April 21, 2009

Glencore may enter bidding war for Asarco

A one-sentence story from the Wall Street Journal says Glencore International is very interested in buying bankrupt Tucson-based Asarco. Glencore is one of the largest privately owned companies in Europe with worldwide commodity operations and revenues in 2008 of over $152 billion.

Glencore's name surfaced as a potential buyer repeatedly over the past few years. As of now, Sterlite Industries $1.7 billion offer is the one to beat.

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