Asarco Parent Makes $4.1B Asset Bid

Law360, New York (June 13, 2008, 12:00 AM EDT) -- The parent of Asarco LLC has reportedly deployed a new, $4.1 billion gambit to buy its subsidiary's assets, proposing to one-up the bankrupt mining company's current lead bidder and put up additional funds to pay off asbestos-related personal injury claims.

Grupo Mexico SA de CV, which has long sought to purchase the assets, unveiled its latest bid Thursday at a hearing in the U.S. Bankruptcy Court for the Southern District of Texas, according to Reuters.

The hearing's subject was Asarco's motion seeking final approval for a...
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