Grupo Mexico To Fight $1.3B Award To Southern Copper

Law360, New York (October 17, 2011, 6:02 PM EDT) -- Grupo Mexico SAB on Monday pledged to appeal a Delaware judge's demand that it return $1.26 billion worth of shares to Southern Copper Corp. for bullying the unit into buying a mining company.

On Thursday, Chancellor Leo E. Strine said Grupo Mexico took advantage of Southern Copper, a New York Stock Exchange-listed company in which it owned a controlling stake, when it convinced the unit to buy its mine, Minera Mexico, for $3.75 billion worth of Southern Copper stock. A group of Southern Copper shareholders filed...
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