Monday, April 13, 2009

Grupo Mexico offers $1.3B for Asarco

New report just out that Grupo Mexico is offering $1.3 billion in cash to take Tucson-based Asarco out of bankrupty, as a counter offer to Vedanta subsidiary Sterlite Industries which offered $1.1 billion in cash and a note for $600 million.

Grupo Mexico claims to have the support of Asarco's asbestos claimants who oppose a liability release for Sterlite.

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