Grupo Mexico's Bid For Asarco Hits Snag

Law360, New York (October 19, 2009, 7:07 PM EDT) -- Following a hearing in a district court, Grupo Mexico SAB de CV has reportedly found itself with some additional hurdles to clear in its bid to acquire bankrupt U.S. copper mining company Asarco LLC.

Judge Andrew S. Hanen of the U.S. District Court for the Southern District of Texas indicated at a hearing Monday that he would not rubber-stamp Grupo Mexico's bid to take back estranged subsidiary Asarco and reject a rival offer from Sterlite Industries Ltd., in spite of a September recommendation in Grupo Mexico's...
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