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

Saturday, July 11, 2009

Asarco bidding war (was there ever one?) may be over...

Google News Alert for: asarco
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 ...
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"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."

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