| Grupo Mexico quarterly net profit drops 47 pct Reuters - USA "... mention the status of a continuing legal battle in the United States to regain control of its bankrupt US subsidiary, Arizona-based copper miner Asarco. ..." See all stories on this topic |
Wednesday, July 22, 2009
[Fwd: Google Alert - asarco] Grupo Mexico quarterly net profit drops 47 pct
Google News Alert for: asarco
Monday, July 20, 2009
"UPDATE 1-Asarco may SELL its award from Southern Copper [law]suit"
Asarco may sell its award from Southern Copper suit
"WILMINGTON, Delaware, July 20 (Reuters) - Bankrupt mining company Asarco may sell its multibillion-dollar court award stemming from a suit against its former parent and has contacted more than 100 potential bidders, according to court documents....Asarco said it has asked Barclays Capital Inc to evaluate the potential bids for the court award, which includes about $5 billion of the common stock in Southern Copper Corp...and about $1.4 billion in cash.....Asarco said most of the potential bidders were hedge funds [Harbinger is a hedge fund, for example] , private equity firms [Carlyle Group is a private equity firm, for example] or institutional investors...."
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