Sterlite Industries, a subsidiary of Vedanta Resources, the London-based metal and mining group, has once again surged its offer for the assets of U.S Based Asarco, by about $500 mln to around $2.1 bln. For full story, click here
Continue reading "Sterlite Sweetened Asarco Bid by $500 mln"
Tuesday, August 11, 2009
Sterlite Industries, a leading metals major and part of Anil Agarwal’s Vedanta Group, has revised its offer to purchase the assets of Asarco, the Texas-based bankrupt miner, smelter and copper refiner. For full story, click here
Continue reading "Sterlite Revised Bid for Bankrupt US Copper Firm"
Wednesday, August 5, 2009
Sterlite Industries, the flagship firm of London-listed Vedanta, may get the support of rival bidder Harbinger Capital Partners in its takeover plan for the bankrupt US copper mining firm, Asarco. Harbinger has decided to withdraw from the race, informing the bankruptcy court that its plan to restructure Asarco should not be considered. For full story, [...]
Continue reading "Harbinger Backed Sterlite in Asarco Acquisition"
Thursday, June 18, 2009
India’s Sterlite Industries, a unit of London-listed Vedanta Resources PLC, will import around 1 million metric tons of copper concentrates this financial year, an on-year surge of 1%-2%. For full story, click here
Wednesday, June 17, 2009
Copper and zinc producer Sterlite Industries Ltd. declared that it will be seeking shareholder approval to surge long-term funds by diluting equity up to 25%. The news sent the stock down by about 4.5% on Tuesday. For full story, click here
Continue reading "Asarco bid is now making sense"
Monday, June 8, 2009
The battle for the control of copper miner Asarco, which involves India’s Sterlite Industries, has taken a new turn with a US bankruptcy court allowing the American company to settle environment claims worth $1.1 billion. For full story, click here
Continue reading "Advantage Sterlite in Asarco"
Wednesday, June 3, 2009
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 [...]
Continue reading "Grupo Mexico has topped Sterlite's offer for Asarco"
Wednesday, May 27, 2009
Copper stocks declared that it has joined the metals rally on the bourses today as all other metal stocks traded with heavy gains, while copper prices remained steady on the commodity exchanges in India. For full story, click here
Continue reading "Sterlite, Hindalco reported jump with surge in copper demand"
Friday, May 1, 2009
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 [...]
Continue reading "Sterlite will match rival bid for Asarco"
Wednesday, April 29, 2009
NRI billionaire Anil Agarwal-led Sterlite Industries 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 said it sees the deal getting sealed in the next 3-4 months. For full story, click here
Continue reading "Sterlite will match rival bid for Asarco, to seal deal in 4 months"
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Friday, August 21, 2009