Sterlite will match rival bid for Asarco
NRI billionaire Anil Agarwal-led Sterlite Industries announced that it will compete with any rival bidder to buyout America’s third biggest copper producer Asarco, for which it has already offered $1.7 billion, and declared that it sees the deal getting sealed in the next 3-4 months.
Vedanta Resources Deputy Executive Chairman Navin Agarwal stated:
There always can be a competing bid and if that happens we have a right to match it.
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Fri, May 1, 2009
Post by Mike Rodger, Copper Reporter