| Sterlite not to raise Asarco bid further |
Business Standard - Mumbai,Maharashtra,India
The bidding war for Asarco, the US-based copper miner, may be over with Sterlite Industries contemplating not to increase its offer price further and ...
See all stories on this topic
"Sterlite is bidding for the assets while Group Mexico is bidding for the company, including its entire liability...There has also been a third bidder in the race. New York-based private equity (PE) fund Harbinger Capital Partners had submitted its bid of $500 million in cash and consumption of certain liabilities in May. The PE fund is a key Asarco bond holder but has not revised its offer. It is not expected to have much support from the creditors."