Sterlite Sweetens Asarco Bid With $8B Grupo Release

Law360, New York (September 22, 2009, 2:35 PM EDT) -- India-based Sterlite Industries Ltd. is taking aim at its primary rival in a yearlong bidding war over bankrupt copper mining operator Asarco LLC, pledging to release Grupo Mexico SAB de CV from up to $8 billion in liability should Sterlite's bid to take Asarco win out over Grupo Mexico's.

In a filing with the U.S. Bankruptcy Court for the Southern District of Texas on Monday, Sterlite — a unit of Vedanta Resources PLC and India's largest copper producer — urged the court to take a second...
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