"A hearing is set for Friday (June 5) on the competing offers"
http://www.hedgeco.net/news/news_land.php?i=http://www.azbiz.com/articles/2009/06/03/news/doc4a2022be4f4fc331210698.txt
Thursday, June 4, 2009
Wednesday, June 3, 2009
"Vedanta tumbles on Asarco bidding war"
Google alert:
"....Vedanta, through its Sterlite subsidiary, has the right to match any higher bid under the terms of its deal with Asarco’s administrators. However, the group had less than $2.9bn in cash at the end of March so an equal offer would probably require raising fresh capital.
| Vedanta tumbles on Asarco bidding war · Finance Yard By Financial Times .....Read the full story on the Financial Times. |
“We are concerned that the higher bid by Grupo México could lead to Vedanta overpaying for the Asarco assets,” said GMP analyst Matt Fernley, who cut Vedanta to “hold”. He valued the Asarco assets at just $1.8bn."
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