| 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."
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