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

Monday, March 15, 2010

London Financial Times: Vedanta renews fight for Asarco ownership

"Google News Alert for: asarco
Vedanta revives bid battle for Asarco
Financial Times
By William MacNamara in London Vedanta, the UK-listed Indian miner, has revived a $2bn (£1.3bn) takeover battle for Asarco, the bankrupt US copper producer, ..."

"Sterlite, a Vedanta subsidiary, has joined the biggest US labour union in seeking to reverse a lower court ruling in November that returned Asarco to Grupo México, its original owner.

Grupo, lawyers for Sterlite and the union said, represented “a self-interested equity holder” that “previously defrauded the debtors [Asarco] and their stakeholders”.

In February, Sterlite and the United Steelworkers union, which represents Asarco’s miners, jointly filed an appeals brief before the appellate court in New Orleans. "

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