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"THE ONLY THING NECESSARY FOR THE TRIUMPH OF EVIL IS FOR GOOD MEN TO DO NOTHING"
--Burke

Monday, May 18, 2009

May 15'th Grupo Mexico files offer with Bankruptcy Court for Asarco...

"NEW YORK, May 15 (Reuters) - A Grupo Mexico SAB de CV(GMEXICOB.MX) unit
on Friday formalized its $1.55 billion offer for bankrupt U.S. copper
miner Asarco LLC by filing its own proposal for Asarco's reorganization
in a Texas court.... is competing against a $1.7 billion offer from
India's Sterlite Industries (STRL.BO).... Grupo Mexico said it is
offering $1.3 billion in cash and a $250 million fully committed loan to
regain control of Asarco. Sterlite's offer is for $1.1 billion in cash
and and about $600 million of senior secured notes, payable over nine
years."
http://www.reuters.com/article/bankruptcyNews/idUSN1530360420090515
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