Grupo Mexico has topped Sterlite's offer for Asarco
Grupo Mexico has offered to pay $2.9 billion for purchasing bankrupt copper producer, Asarco, which it earlier owned. The company has raised its offer from the earlier offer of $1.6 billion against Sterlite Industries’ $ 1.7 billion proposal.
Sandeep Bharadwaj of Tower Capital and Securities stated:
If they do go for the bid then it will be too expensive for Sterlite. We suggest selling Sterlite.
For full story, click here
Comment |
|
Tweet |
|
All content Copright 2011 Dig Media Inc. Disclaimer
Email
Print
Reproduction Request
Wed, Jun 3, 2009
Post by Mike Rodger, Copper Reporter