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 ... See all stories on this topic

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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."

July 11, 2009 Labor News International Unions Escalate Mexico Solidarity

"On a five-day visit to Mexico this week, a delegation of several dozen labor leaders representing millions of workers from the US, Canada, Europe, South Africa, Australia, and South America renewed their backing of Mexican colleagues locked in conflicts with the federal government and the big transnational corporation Grupo Mexico...... ...Pro-Gomez union forces have charged that dissidents are manipulated by Grupo Mexico and anti-labor elements of the federal government....Accompanying the foreign visitors, Mexican senator and longtime human rights  activist Rosario Ibarra charged that almost 100 oil industry workers have “disappeared” since the advent of the Calderon presidency in 2006, because of labor disputes.

Sources: La Jornada, July 9, 10, 11, 2009. Articles by Patricia Munoz Rios
and Carolina Gomez Mena. International Federation of Chemical, Energy,
Mine and General Workers Unions, July 8 and 10, 2009. Press releases.

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