Sterlite Increases Bid To $2.6B In War For Asarco

Law360, New York (September 11, 2009, 4:05 PM EDT) -- In a continuing battle between India-based Sterlite Industries Ltd. and Grupo Mexico SAB for ultimate control of bankrupt U.S. copper mining company Asarco LLC, Sterlite has upped its offer to $2.565 billion in cash on closing.

Sterlite, a unit of Vedanta Resources PLC and India's largest copper producer, said in a statement Friday it was increasing its previous offer of $2.135 billion for the purchase of substantially all of the operating assets of Asarco following “extensive discussions and review.”

The revised bid also tops the latest...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.